Latest news with #Pouyanne
Time of India
a day ago
- Business
- Time of India
French energy giant TotalEnergies reaffirms support for Adani Green's expansion in India
TotalEnergies is "committed to continue to support the expansion of AdGreen ," Patrick Pouyanne , Chairman and CEO of the French energy giant, said on Monday. With Adani Green Energy Limited (AGEL )'s current capacity of 14 gigawatts and plans for continued expansion, the partnership with TotalEnergies is expected to play a crucial role in India 's ambitious renewable energy targets and the country's transition toward cleaner energy sources. Pouyanne said this during his meeting with Indian Commerce and Industry Minister Piyush Goyal , who is currently on a three-day visit to France from June 1. "We are committed to continue to support the expansion of Adani Green, which already has 14 gigawatts of capacity," Pouyanne stated, adding, "We will continue to support this growth." The French energy major has invested approximately USD 5 billion in India over the past five years, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind installations, in partnership with Adani entities. TotalEnergies' involvement with Adani Green began in January 2021 when the company acquired a minority stake in the publicly listed renewable energy firm. As part of its strategy to strengthen renewable energy development in India, TotalEnergies also secured a 50 per cent stake in three joint ventures with AGEL operating renewable energy assets. During the Paris meetings, Pouyanne outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the United States, where the company serves as the largest energy exporter. The executive also highlighted plans to restart operations in Mozambique, which could provide additional energy supplies to India. This commitment marks a significant turnaround from TotalEnergies' position following allegations made by short-seller Hindenburg Research against the Adani Group last year. In response to those allegations, the French company had announced it would suspend further financial contributions to its Adani investments pending clarification of the accusations and their consequences. TotalEnergies emphasised that its investments in Adani entities were conducted in full compliance with applicable laws and the company's internal governance processes based on thorough due diligence and declarations provided by the investment partners. The renewed partnership comes as both companies look to capitalise on India's growing renewable energy market. Minister Goyal reportedly encouraged TotalEnergies to expand its presence in India further, building on the substantial investments already made in the country's energy infrastructure. The announcement also follows a memorandum of understanding signed with Gujarat State Petroleum Corporation (GSPC) during the India Energy Summit, signalling TotalEnergies' broader commitment to the Indian energy sector.
Hans India
2 days ago
- Business
- Hans India
Energy major TotalEnergies ‘committed' to support Adani Green's growth: CEO
Paris: Patrick Pouyanne, Chairman and CEO of the French energy giant TotalEnergies, has said the company is committed to continuing to support the expansion of Adani Green Energy Ltd (AGEL). In a meeting with Commerce and Industry Minister Piyush Goyal here, Pouyanne said they are committed to continuing to support the expansion of Adani Green, 'which already has 14 gigawatts of capacity,' and we 'will continue to support this growth.' Pouyanne also outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the US. Goyal also posted on X: 'Met Patrick Pouyanne, Chairman and CEO of TotalEnergies and discussed the company's investment plans for India and avenues for deeper collaboration in the renewable energy sector'. The French energy major has about $5 billion worth of investments in India, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind. In January 2021, TotalEnergies collaborated with Adani Green for the first time when it acquired a minority stake in the renewable energy company. Last month, Adani Green Energy Limited became the world's first renewable energy (RE) Independent Power Producer (IPP) to turn water positive across its entire operational portfolio, which exceeds a massive 14 GW capacity. AGEL achieved water positivity a year ahead of its FY26 target to set a new standard for sustainability. It is the first and only among the top 10 global companies (in terms of operational RE portfolio) to ever reach this milestone. Adani Green posted robust FY25 results, surpassing $1 billion in EBITDA, as operational renewable energy (RE) capacity grew a healthy 30 per cent to 14.2 GW (year-on-year), which continues to be India's largest. The Adani Group company reported greenfield addition of 3.3 GW in FY25, India's highest ever by any RE firm, and contributed 16 per cent of nationwide utility-scale solar and 14 per cent of wind installations last fiscal. AGEL is developing a massive 30 GW renewable energy plant at Khavda in Gujarat. This is spread over an area of 538 sq km, almost five times the city of Paris.
India Gazette
2 days ago
- Business
- India Gazette
French energy giant TotalEnergies reaffirms support for Adani Green's expansion in India
By Shailesh Yadav Paris [France], 2 June (ANI): TotalEnergies is 'committed to continue to support the expansion of Adani Green,' Patrick Pouyanne, Chairman and CEO of the French energy giant, said on Monday. With Adani Green Energy Limited (AGEL )'s current capacity of 14 gigawatts and plans for continued expansion, the partnership with TotalEnergies is expected to play a crucial role in India's ambitious renewable energy targets and the country's transition toward cleaner energy sources. Pouyanne said this during his meeting with Indian Commerce and Industry Minister Piyush Goyal, who is currently on a three-day visit to France from June 1. 'We are committed to continue to support the expansion of Adani Green, which already has 14 gigawatts of capacity,' Pouyanne stated, adding, 'We will continue to support this growth.' The French energy major has invested approximately USD 5 billion in India over the past five years, focusing on natural gas infrastructure, city gas development, and renewable energy projects, particularly solar and wind installations, in partnership with Adani entities. TotalEnergies' involvement with Adani Green began in January 2021 when the company acquired a minority stake in the publicly listed renewable energy firm. As part of its strategy to strengthen renewable energy development in India, TotalEnergies also secured a 50 per cent stake in three joint ventures with AGEL operating renewable energy assets. During the Paris meetings, Pouyanne outlined TotalEnergies' broader Indian expansion plans, including increased energy exports from the United States, where the company serves as the largest energy exporter. The executive also highlighted plans to restart operations in Mozambique, which could provide additional energy supplies to India. This commitment marks a significant turnaround from TotalEnergies' position following allegations made by short-seller Hindenburg Research against the Adani Group last year. In response to those allegations, the French company had announced it would suspend further financial contributions to its Adani investments pending clarification of the accusations and their consequences. TotalEnergies emphasised that its investments in Adani entities were conducted in full compliance with applicable laws and the company's internal governance processes based on thorough due diligence and declarations provided by the investment partners. The renewed partnership comes as both companies look to capitalise on India's growing renewable energy market. Minister Goyal reportedly encouraged TotalEnergies to expand its presence in India further, building on the substantial investments already made in the country's energy infrastructure. The announcement also follows a memorandum of understanding signed with Gujarat State Petroleum Corporation (GSPC) during the India Energy Summit, signalling TotalEnergies' broader commitment to the Indian energy sector. (ANI)
India Gazette
3 days ago
- Business
- India Gazette
India emerges as key market for LNG, ranks fourth globally in 2024: TotalEnergies CEO
Paris [France], 2 June (ANI): India is becoming an increasingly important market for liquefied natural gas (LNG) and was ranked number four in the world in 2024, said Patrick Pouyanne, Chairman and CEO of TotalEnergies. He made these remarks during an exclusive conversation with ANI in Paris, France. Pouyanne shared insights into the French energy giant's expanding presence in India, highlighting that TotalEnergies has invested nearly USD 5 billion in the country over the last five years. He said, 'India is becoming an important market for LNG, number four in the world in 2024. So developing this gas for us, finding customers, long-term customers in India is good'. These investments span across gas, natural gas imports, city gas distribution, development of gas infrastructure, as well as renewable energy projects such as solar and wind. 'We have invested almost USD 5 billion in the last five years, in particular in gas, natural gas, importing energy, city gas, development of gas infrastructure in India, as well as renewables. We invest a lot in solar and wind in India,' Pouyanne said. Responding to a question about the progress on the MoU signed during India Energy Week with GSPC (Gujarat State Petroleum Corporation) venture in India, Pouyanne said, 'It's going very well. We have signed some contracts in the last year for providing energy to India. GSPC is one, IOCL is another. These are long-term, 10-year contracts.' He added that the MoU would be converted into a Sales and Purchase Framework (SPF) soon, marking a significant step in strengthening the LNG supply chain to India. He also spoke about his meeting with Union Commerce Minister Piyush Goyal, who encouraged the company to expand its operations further in India. He said, 'We discussed TotalEnergies' investments in so we discussed our plans, what we've done and what we intend to do for the future. And of course, Mr. Goyal encouraged me to do more in India'. The meeting took place in Paris during Goyal's official visit to France, which is part of his ongoing trip to France and Italy from June 1 to 5. Goyal is also scheduled to meet with key French ministers, including Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin. The developments highlight India's growing role in the global energy market and its strong partnership with global energy players like TotalEnergies. (ANI)
Time of India
3 days ago
- Business
- Time of India
India emerges as key market for LNG, ranks fourth globally in 2024: TotalEnergies CEO
Paris: India is becoming an increasingly important market for liquefied natural gas (LNG) and was ranked number four in the world in 2024, said Patrick Pouyanne , Chairman and CEO of TotalEnergies. He made these remarks during an exclusive conversation with in Paris, France. Pouyanne shared insights into the French energy giant's expanding presence in India, highlighting that TotalEnergies has invested nearly USD 5 billion in the country over the last five years. He said, "India is becoming an important market for LNG, number four in the world in 2024. So developing this gas for us, finding customers, long-term customers in India is good". These investments span across gas, natural gas imports, city gas distribution, development of gas infrastructure, as well as renewable energy projects such as solar and wind. "We have invested almost USD 5 billion in the last five years, in particular in gas, natural gas, importing energy, city gas, development of gas infrastructure in India, as well as renewables. We invest a lot in solar and wind in India," Pouyanne said. Responding to a question about the progress on the MoU signed during India Energy Week with GSPC (Gujarat State Petroleum Corporation) venture in India, Pouyanne said, "It's going very well. We have signed some contracts in the last year for providing energy to India. GSPC is one, IOCL is another. These are long-term, 10-year contracts." He added that the MoU would be converted into a Sales and Purchase Framework (SPF) soon, marking a significant step in strengthening the LNG supply chain to India. He also spoke about his meeting with Union Commerce Minister Piyush Goyal, who encouraged the company to expand its operations further in India. He said, "We discussed TotalEnergies' investments in so we discussed our plans, what we've done and what we intend to do for the future. And of course, Mr. Goyal encouraged me to do more in India". The meeting took place in Paris during Goyal's official visit to France, which is part of his ongoing trip to France and Italy from June 1 to 5. Goyal is also scheduled to meet with key French ministers, including Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin. The developments highlight India's growing role in the global energy market and its strong partnership with global energy players like TotalEnergies. (ANI)
