AZB & Partners Advises Reliance on $1.8B Renewable Energy Joint Venture with TotalEnergies

AZB & Partners advised Reliance Industries on its $1.8 billion renewable energy joint venture with TotalEnergies, one of the largest cross-border green-energy transactions in India this year.

Deal scope

The JV will develop 5 GW of solar capacity, 2 GW of wind, and a green hydrogen production facility across Gujarat and Rajasthan over five years. The total investment commitment, including future tranches, exceeds $4 billion.

Regulatory backdrop

The deal moved quickly through CCI approval under the green-channel route. The transaction structure is being studied by other firms as a template for large clean-energy JVs given the recent FDI policy clarifications for the sector.