Stock

TotalEnergies suspends Adani Green investment, awaiting clarity on bribery case, says CEO

Published

By Ron Bousso and Marwa Rashad

LONDON – TotalEnergies (EPA:TTEF) will pause investment in its Adani Green energy project until there is further clarity on a U.S. bribery case against Indian billionaire Gautam Adani, the French group’s CEO, Patrick Pouyanne, said on Tuesday.

The French company, which holds close to a 19.8% stake in Adani Green, has other options in its portfolio to meet its renewable energy growth targets, Pouyanne told Reuters on the sidelines of the Energy Intelligence Forum.

Pouyanne emphasised that his company was not quitting the project, but that it will not be providing financing for any new scheme.

TotalEnergies said on Monday that it had not been informed about a U.S. investigation into possible bribery and corruption at Adani Green Energy (NS:ADNA) Limited, adding that it will stop financial contributions to its Adani Group investments after last week’s indictment.

This post appeared first on investing.com

In this article:

You May Also Like

Economy

Hamas leader killed in Lebanon was UN employee, agency confirms

A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

September 30, 2024

Editor's Pick

How voters view Vance and Walz, in detail

Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

October 1, 2024

Investing

Astron, Energy Fuels Form Joint Venture for Donald Rare Earths and Mineral Sands Project

Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

September 27, 2024

Latest News

A North Korean defector who struggled in South Korea stole a bus and tried to drive across the border, police say

A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

October 3, 2024

Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 balanceandcharge.com

Exit mobile version