Its ties to the Adani Group date back to 2018 when the two companies partnered to develop a liquefied natural gas business. In January 2021, TotalEnergies purchased a 19.75% stake in Adani Green Energy, Reuters reported. The oil and gas company also owns a 37.4% stake in Adani Total Gas Limited, as well as a 50% stake in three renewable joint ventures with Adani Green Energy. "TotalEnergies recalls 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," the statement on Monday said. The oil and gas company added that it would take "all relevant actions to protect its interests as minority [19.75%] shareholder of AGEL [Adani Green Energy] and as a joint-venture partner [50%] in project companies with AGEL".