As TotalEnergies 'Halts' Fresh Funding; Adani Green Energy Says... - Full Statement

New Delhi [India], November 26 (ANI): Adani Green Energy on Tuesday clarified media reports suggesting an impact on its operations following a statement released by TotalEnergies regarding its investments in the Adani Group.

In a regulatory filing with the stock exchanges, the company emphasized that there is no new financial commitment under discussion with TotalEnergies.

The clarification comes after media reports surfaced citing a press release titled 'TotalEnergies' Statement on its Investments related to Adani Group in India', published on TotalEnergies' official website on November 25, 2024.

The reports speculated about a potential impact on Adani Green Energy following TotalEnergies' decision to halt fresh financial contributions to projects in India.

In its statement, Adani Green Energy said, “We wish to clarify that there is no new financial commitment under discussion with TotalEnergies. Hence, the Press Release will not have any material impact on the Company's operations or its growth plan. Accordingly, there is no material impact of the Media Report and the Press Release on the Company at this stage”

The company also reaffirmed that it had provided an update earlier on Tuesday morning to address these concerns. The statement further highlighted that both the media report and the press release issued by TotalEnergies would not affect Adani Green Energy's current operations or future plans.

The company assured stakeholders that its business strategy remains on track and unaffected by the developments.

The clarification by the company aims to dispel uncertainties among investors and stakeholders regarding the media reports and maintain confidence in the company's operations and growth trajectory. (ANI)