TotalEnergies Suspends Funding Amid Adani Group Bribery Probe

TotalEnergies SE halts financial contributions to Adani Group amid a U.S. investigation into alleged bribery involving Adani Green Energy. TotalEnergies, holding a 20% stake in Adani Green Energy, was unaware of the probe and emphasized the strategic alliance with the Adani Group in India's burgeoning renewable market.

French oil giant TotalEnergies SE has announced the suspension of financial contributions to its investments in India's Adani Group, following revelations of a U.S. investigation into alleged bribery and corruption involving Adani Green Energy Limited.

TotalEnergies, which holds a 20% stake in Adani Green Energy and has a seat on its board, stated that it was not informed about the investigation that has led to the charging of prominent figures, including Indian tycoon Gautam Adani.

The investigation has implicated eight individuals in corrupt activities allegedly taking place between 2021 and 2024. Despite the turbulence, TotalEnergies continues to emphasize the importance of its partnership with Adani in India's renewable energy sector.

(With inputs from agencies.)