TotalEnergies, which has 19.75 per cent stake in Adani Green Energy Ltd, said it will take all relevant actions to protect its minority investment in the company, and would not make any new financial contribution as part of its investments in the Adani group of companies.

In a statement the French energy major said that it rejected corruption in any form. “TotalEnergies has learnt through public announcements made by the US authorities of the indictment of certain individual Adani group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Limited (AGEL). This indictment does not target AGEL itself, nor any AGEL related companies,” the company said. It also made it clear that it was not made aware of the existence of an investigation into the alleged corrupt scheme.

Apart from its monetary stake in Adani Green, TotalEnergies is also an equal joint venture partner with the Adai entity in three projects, producing renewable energy.

“Until such time when the accusations against the Adani group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani group of companies,” the statement said.

TotalEnergies said that its investments in Adani’s entities were undertaken in full compliance with applicable laws, and with TotalEnergies’ own internal governance processes pursuant to due diligence and representations made by the sellers.

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