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

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.