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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

TotalEnergies, Adani Group set up JV for wind, solar power production in India

TotalEnergies aims to expand renewable electricity production to 35 GW by 2025. (AFP)
  • The JV will include wind and solar assets that Adani Green Energy Limited already operates and is building and developing in India.
  • TotalEnergies has been developing renewable electricity production, with 19 GW of installed gross production capacity as of July 2023.

PARIS, FRANCE – French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind and solar electricity production in India.

The joint venture will include wind and solar assets that Adani Green Energy Limited (AGEL) already operates and is building and developing in India, while TotalEnergies will make an equity investment to further support their development.

Adani Group Chairman Gautam Adani said the investment by TotalEnergies “will further strengthen the pivotal role played by AGEL in India’s glide path to decarbonization.”

The company has 20.4 gigawatts of renewable electricity production in operation and development, and plans to expand this to 45 GW by 2030.

TotalEnergies chief executive Patrick Pouyanne said the joint venture “will enable us to speed up our development through direct access to a large portfolio of assets”.

It will also “support the ambition of AGEL in becoming the Indian leader of renewable energy”, he added.

The French oil and gas giant has also been rapidly developing renewable electricity production, with 19 GW of installed gross production capacity as of July 2023.

It aims to expand this to 35 GW by 2025 and 100 GW by 2030.

The joint venture will include 30 MW of AGEL’s operational assets, 500MW under construction and a further 250 MW under development.