Total's acquisition of AGEL stake strengthens its position i

Total's acquisition of AGEL stake strengthens its position in low-carbon generation: Moody's


Focus on renewable electricity generation is one of the key aspects of Total's carbon transition strategy.
Total's acquisition of AGEL stake strengthens its position in low-carbon generation: Moody's
ANI |
Updated: Jan 25, 2021 12:05 IST
Frankfurt [Germany], January 25 (ANI): Total SE's acquisitions of 20 per cent minority interest in Adani Green Energy Ltd (AGEL) from Adani Group for around 2.5 billion dollars is credit positive because it strengthens Total's position in the low carbon business, according to Moody's Investors Service.
This includes prior acquisition of a 50 per cent stake in a 2.35 GWac portfolio of operating solar assets owned by AGEL.
"We consider the acquisition credit positive because it strengthens Total's position in the low carbon business, facilitating its goal to achieve carbon neutrality by 2050," said Moody's in its latest credit outlook released on Monday.

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