Adani Green Energy Block Deal: ₹2,400 Crore Mega Stake Sale Shakes Stock

Adani Green Energy Limited (AGEL), India's largest and one of the world's leading renewable energies (RE) companies, completed a block deal worth ₹2,400 crore on Wednesday, December 10. French energy company TotalEnergies reportedly sold up to 1.5% (24.7 million shares) of its stake in this Adani Group company through the block deal.

AGEL Block Deal Details

Jefferies is said to be the broker for the block deal. The deal was struck at a floor price of ₹970 per share. The impact of this block deal, which took place before market opening today, can be seen in AGEL shares. As of September 30, TotalEnergies Renewables Indian Ocean Limited held a 15.58% stake in AGEL.

Adani Green Energy–TotalEnergies Partnership Since 2020

Adani Green Energy Limited, the country's largest renewable energy company, was founded in 2015. It currently has an operational capacity of over 16.6 GW, with a target of reaching 50 GW by 2030.

Total Energies is developing solar and onshore wind projects in India in collaboration with Adani Green Energy.

The partnership began in 2020 with the formation of AGEL23, a 50:50 joint venture to operate 2.3 GW of solar projects.