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Adani Green Energy says no talks on new financial commitment with TotalEnergies
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Adani Green Energy says no talks on new financial commitment with TotalEnergies
Nov 25, 2024 9:32 PM

Nov 26 (Reuters) - Adani Green Energy said on

Tuesday there is no new financial commitment under discussion

with TotalEnergies, a day after the French oil major

said it was pausing new investments into the Adani Group over

U.S. bribery charges.

TotalEnergies' move was the first major fallout after U.S.

authorities last week charged Adani's billionaire chairman,

Gautam Adani, and seven other people, with agreeing to pay

around $265 million in bribes to Indian government officials.

The Adani Group has said the accusations as well as those

levelled by the U.S. Securities and Exchange Commission in a

parallel civil case are baseless and that it will seek "all

possible legal recourse".

TotalEnergies' statement will not have any material impact

on Adani Green Energy's operations or its growth plan, Adani

Green said in a stock exchange filing.

Adani Green's shares were down 7% on Tuesday, extending a

decline of 8% after TotalEnergies' statement on Monday. The

company has lost more than $9.5 billion in market value since

the U.S. indictment.

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