No new financial commitment under discussion with TotalEnergies: Adani Green Energy

Mumbai (The Uttam Hindu): Adani Green Energy on Tuesday said they have no new financial commitment under discussion with the French oil major TotalEnergies.

In a stock exchange filing, Adani Green said, “We wish to clarify that there is no new financial commitment under discussion with TotalEnergies.”

Citing a press release titled ‘TotalEnergies’ statement on its Investments related to Adani Group in India along with a media report, the Adani Group company said that “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,” Adani Green said in its filing.

The Adani Group had earlier denied allegations made by the US Department of Justice (DoJ) and the US Securities and Exchange Commission (SEC) against directors of its subsidiary company Adani Green, saying that all possible "legal recourse will be sought”.

According to Adani Group Chief Financial Officer (CFO) Jugeshinder Singh, none of the group’s 11 public companies or their subsidiaries are defendants in the case filed by the US DoJ, nor are they accused of wrongdoing.

In a post on X social media platform, Singh also mentioned that the Group had disclosed potential risks earlier in its February 2024 offering circular and that the “allegations remain unproven”.

The Adani Portfolio of companies reported record results for the first half of this fiscal (H1 FY25) as well as the trailing-twelve-month (TTM) period. In H1 FY25, the portfolio companies invested Rs 75,277 crore, increasing the total gross assets to a record Rs 5.53 lakh crore.

Consistently advancing EBITDA reached its highest ever, for H1 FY25, EBITDA stood at Rs 44,212 crore (up 1.2 per cent YoY), taking TTM EBITDA to Rs 83,440 crore (up 17.1 per cent YoY)