Billions for solar.
Total announced Monday an investment of $ 2.5 billion to acquire 20% of AGEL, the large subsidiary of the Indian conglomerate Adani specializing in photovoltaic plants.
For this sum, the French also acquires 50% of a large portfolio of 2.35 gigawatts (GW) of solar power plants in operation, or the equivalent of just over two nuclear reactors.
India represents a colossal market for renewables.
New Delhi intends to build 450 GW of renewable capacity by 2030, both to meet the growing demand for electricity and to decarbonize its electron production, which is still very dependent on coal.
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This investment allows Total to take another leap forward in its pro-renewable strategy.
The oil and gas specialist sees its long-term future in electricity.
It is working hard to try to catch up with its competitors in this area, in particular the French EDF
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