PARIS (Reuters) -TotalEnergies plans to sell all its renewable power holdings except those in the United States, Brazil and Europe, the company’s gas, renewables and power president Stephane Michel said on Monday at Investor Day in New York.
Currently, roughly 25% of the French oil major’s operational renewables portfolio comes from its joint ventures with Indian conglomerate Adani, as well as a direct stake in Adani Green Energy Limited.
Total CEO Patrick Pouyanne said that Adani Green Energy Limited was a good company that was growing, but that Total didn’t plan to grow its green portfolio with Adani in future.
“I would be very happy to sell my stake in Adani Green,” Pouyanne said, adding he had bought the stake for around $2 billion and it was now worth around $8 billion.
(Reporting by America Hernandez. Writing by Makini Brice. Editing by Mark Potter)
