TotalEnergies SE ( TTE ) shares are trading lower on Monday. The company stated that it has learned of U.S. authorities indicting certain executives of Adani Group‘s Indian renewable energy segment.

The indictment does not target Adani Green Energy Ltd. (AGEL) or its related entities. TotalEnergies is not implicated in the allegations, either.

TotalEnergies owns a 19.75% stake in AGEL and is a 50% joint-venture partner in AGEL projects established between 2020 and 2024.

Pending clarification of the accusations and their implications, TotalEnergies will halt new financial contributions to Adani group investments.

TotalEnergies states its investments in AGEL, made in compliance with laws and due diligence processes, were based on representations from the sellers, with no prior knowledge of any investigations.

Apart from this, TotalEnergies is partnering with Air Liquide to produce renewable hydrogen at its La Mède biorefinery in southeast France, supporting its 2030 goal to decarbonize hydrogen use in European refineries.

This initiative complements the Masshylia green hydrogen project, developed with ENGIE. Together, these projects aim to cut La Mède’s annual CO2 emissions by 130,000 tons.

Apart from this, TotalEnergies and ENGIE are advancing the Masshylia project to produce 10,000 tons of green hydrogen annually through water electrolysis.

This will help decarbonize the La Mède biorefinery and serve local customers in the Fos-Berre industrial-port zone. The first 20 MW electrolyzer is targeted for startup in 2029, pending European and French subsidies and public authorizations.

Last week, the company inked a Cooperation Agreement with Oil India Limited (OIL) to use TotalEnergies' AUSEA technology for methane emissions detection and measurement at OIL sites in India.

Investors can gain exposure to the stock via First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF and Octane All-Cap Value Energy ETF ( OCTA ) .

Price Action: TotalEnergies shares are down 1.42% at $58.81 at the last check Monday.

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