A subsidiary of Qatar Investment Authority, Qatar Holding, has bought a 25.1% participation in Adani Electricity Mumbai for INR450bn (around US$450m). The transaction is expected to close by early 2020. Adani Electricity Mumbai is a vertically integrated utility involved in the power generation, transmission and distribution activities that currently serves more than 3 million consumers in Mumbai. Its market share of Mumbai is approximately 87% by license area, 67% by consumers served and 55% by electricity supplied.
In October 2019, Total and Adani have decided to deepen their strategic partnership to further take part to the development of the Indian gas market. Total plans to acquire a 37.4% stake in Adani Gas for INR 57bn (US$800m) from Adani that holds a 74.8% stake. Adani gas is one of the four main distributors of city gas in India. Total and Adani, the largest private energy and infrastructure group in India, previously agreed in 2018 to cooperate in fuel retail and LNG activities,