Adani Green shares fall 1% amid reports TotalEnergies may sell part of its stake

TotalEnergies CEO admits Adani Green Energy turned out to be a “very profitable investment” and is now considering cashing in some gains by selling part of its stake, said a Bloomberg report.

The report adds that TotalEnergies acquired 20% of Adani Green in 2021 for $2 billion.

According to a press release by TotalEnergies issued in November 2024, in January 2021, TotalEnergies acquired a minority interest in the listed company Adani Green Energy Limited, of which it now owns 19.75%.

"As part of its strategy to enhance its development in renewables in India through direct access to a portfolio of assets, TotalEnergies also has acquired a 50% stake in 3 JVs operating renewable assets (AGEL23 in 2020, AREL9 in 2023, and AREL64 in 2024)," the press release added.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. "Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations," the company says.

About Adani Green Energy

Adani Green Energy Limited (AGEL) is one of the leading Indian renewable energy companies that develops, owns, and operates utility-scale solar, wind, and hybrid power plants. As part of the Adani Group, AGEL is a major player in India's clean energy transition, with a large operational portfolio and a 2030 target of 50 GW of renewable energy capacity.

Adani Green Q1 FY26 Results

Adani Green Energy Ltd (AGEL) posted a 31% year-on-year (YoY) rise in consolidated net profit to ₹824 crore in the June quarter (Q1 FY26), driven by revenues from its core businesses.

AGEL, which is the green portfolio company of the Adani Group, had clocked a net profit of ₹629 crore in the April-June period of the 2024-25 financial year.

The company increased its total income to ₹4,006 crore in the June quarter from ₹3,112 crore in the year-ago period.

A major share of ₹3,312 crore and ₹429 crore in revenues came from power supply and sale of goods/equipment, respectively.

Expenses were at ₹3,050 crore as against ₹2,437 crore in the corresponding quarter a year ago.

In a statement, the company said strong revenue, EBITDA and cash profit growth were primarily backed by robust greenfield capacity addition of 4.9 GW, deployment of advanced RE technologies, superior plant performance and deployment of new capacities in resource-rich sites at Khavda in Gujarat as well as in Rajasthan.