No new financial commitment with TotalEnergies: Adani Green
Adani Green Energy Ltd (AGEL) on Tuesday said there was no new financial commitment under discussion with TotalEnergies.
In a press statement, AGEL said, «We wish to clarify that there is no new financial commitment under discussion with TotalEnergies,» adding that it will not have any material impact on the company's operations or its growth plan.
The comments come a day after French energy major Total Energies said it will not make any new financial contribution as part of its investments in the Adani group of companies until the accusations against the Adani Group individuals and their consequences were clarified. Adani Green Energy's scrip ended at ₹899.40, down 7.05% on BSE Tuesday. Adani Total Gas ended 3.50% lower at ₹579.70.
On November 21, the US Department of Justice as well as the Securities and Exchange Commission charged Adani Group chairman Gautam Adani, his nephew Sagar and AGEL managing director-CEO Vneet Jaain of giving bribes of over $250 million to Indian government officials, aimed at helping Adani Green secure solar energy contracts from the Solar Energy Corporation of India, which in turn collated contracts between itself and various Indian state electricity distribution companies.
TotalEnergies owns 19.75% in AGEL and 37.4% stake in Adani Total Gas Ltd (ATGL). ATGL operates the group's city gas distribution business, which retails compressed natural gas to automobiles and piped natural gas to households for cooking.
Artificial Intelligence(AI)
Master in Python Language Quickly Using the
