Just 20% of AGEL's portfolio is operational, compared to 55% for ReNew. AGEL's expansion plans are partly dependent on selling stakes in commissioned projects. It did just this with French energy major Total SA last year. Total has invested over Rs 4,000 crore ($550 million) in a 50:50 joint venture (JV) with AGEL that houses 2.4 GW of the latter's operational assets. Total also owns a 20% stake in AGEL.