February 6, 2020 / 7:37 AM / 13 days ago

French group Total strikes renewable energy deal with Adani Group

FILE PHOTO: The logo of French oil and gas company Total is seen above a petrol station in Cape Town, South Africa February 7, 2019. REUTERS/Mike Hutchings/File Photo

PARIS (Reuters) - French oil and gas group Total on Thursday signed a new deal with Indian company Adani Group to expand their partnership towards the renewable energy sector.

Total said it would create a 50/50 joint venture company with Adani Green Energy Limited, to set up green energy projects in more than 11 Indian states with a cumulative capacity of over 2 GW.

Total added that the deal with Adani had a value of around $500 million.

Reporting by Sudip Kar-Gupta; Editing by Alex Richardson

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