TotalEnergies has chosen to pause its investment in Adani Green Energy until there is greater clarity on a U.S. bribery case involving Indian billionaire Gautam Adani, CEO Patrick Pouyanne confirmed on Tuesday.
The French firm, which holds a 19.8% stake in Adani Green, has other projects in its portfolio to meet its renewable energy expansion targets, Pouyanne shared during the Energy Intelligence Forum in an interview with Reuters.
He emphasized that TotalEnergies is not withdrawing from the project but will not fund any new initiatives for the time being.
On Monday, TotalEnergies stated it was unaware of the U.S. investigation into alleged bribery and corruption at Adani Green Energy Limited. Following last week’s indictment, the company decided to suspend financial contributions to its Adani Group investments.