Nyse Order Imbalance 12359.0 Shares On Buy Side

TotalEnergies Renewables Indian Ocean, the subsidiary of global energy company TotalEnergies, has offloaded 1.7 percent equity stake in Adani Green Energy to 17 investors via block deals on December 10.

Adani Green Energy shares corrected nearly 1 percent to Rs 989.8 on the NSE, trading near the lower end of Bollinger Bands.

As per the block deals data, TotalEnergies Renewables sold 2.86 crore equity shares of the Adani group company for Rs 2,778.09 crore. The transaction price was Rs 970 per share.

French corporation TotalEnergies through its two subsidiaries TotalEnergies Renewables Indian Ocean and TotalEnergies Solar Wind Indian Ocean held 18.99 percent stake worth Rs 30,972 crore in the renewable energy solutions provider as of September 2025.

On other side, Quant Mutual Fund was the largest buyer in the block deal executed by TotalEnergies, picking up 1.23 crore shares (0.75 percent stake) for Rs 1,200 crore.

Other 16 investors that acquired remaining 1.62 crore equity shares in the Adani Group company for Rs 1,578.09 crore included BNP Paribas Financial Markets, Edelweiss Mutual Fund, Vanguard Emerging Markets Shares Index Fund, Amity Holdings, Cohesion MK Best Ideas, Visaria Family Trust, and Authum Investment.

Adani Green Energy announced partnership with the French major in 2020 by forming a 50-50 joint venture AGEL23 for the operation of 2.3 GWac/3.1 GWp of solar projects.

Further in January 2021, TotalEnergies acquired a 20 percent stake in Adani Green Energy, followed by formation of two more 50-50 joint ventures for 1.05GWac/1.53GWp and 1.15GWac/1.58GWp of renewable energy projects in 2023 and 2024 respectively. With this, their total renewable projects under joint venture increased to 4.5 GWac/6.2 GWp.

Meanwhile, Vidya Wires was also in action, rising 2.25 percent to Rs 53.17 on the listing day despite stake sale by Citigroup, and Abundantia Capital.

Citigroup Global Markets Mauritius sold 24.95 lakh shares for Rs 13.59 crore at Rs 54.47 per share, and Abundantia Capital offloaded 10.66 lakh shares for Rs 5.54 crore shares at Rs 52 per share.

The market reacted negatively to Galp Energia's deal with TotalEnergies for good reason, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. Shares in the Portuguese energy company tumbled Tuesday on news of the deal. The transaction lacked an upfront cash payment and gave limited visibility on future value, they say. "While Galp has de-risked the development by bringing in a credible deepwater operator, it is clear to us that TotalEnergies got the better end of the bargain, with the project adding to an already robust upstream hopper," they write. The process for the deal was likely less competitive than many anticipated, they say. TotalEnergies shares trade up 0.1% at 56.59 euros. Galp's trade up 0.6% at 14.88 euros. (adam.whittaker@wsj.com)

TotalEnergies gains the most from its asset-swap deal with Galp Energia, UBS analysts write. The French energy major is getting 40% participating interest in Galp's Mopane discovery offshore Namibia for a 10% interest in its Venus project and a 9.4% interest in another field. "The absence of upfront payment is positive, and being operator of both blocks should also strengthen its negotiating position as it works towards Venus final investment decision next year," they write. As its organic capital expenditure falls into late 2020s, the company will have more room to spend on the Mopane project, they add. TotalEnergies shares trade flat at 56.51 euros. Galp's trade up 0.1% at 14.80 euros, having tumbled Tuesday on news of the deal. (adam.whittaker@wsj.com)

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10 December 2025

Challenger Energy Group PLC ("Challenger")

Uruguay - Permits for Seismic Acquisition Issued

Entry to PEL 83 in Namibia by TotalEnergies

Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) ("Challenger" or "the Company") is pleased to advise that the Uruguayan Ministry of Environment has issued necessary permits to a number of applicant seismic vendors to allow for the commencement of seismic acquisition in Uruguayan territorial waters. As relates specifically to the Company, the permits allow for acquisition of 3D seismic on AREA OFF-1. Further updates will be provided once the nature, scope and timing of the intended seismic program for AREA OFF-1 is finalised. This follows on from the recently announcement that ENI is farming-in to a 50% stake and operatorship of YPF's AREA OFF-5 block, and indications that APA Corporation is proceeding with plans to drill a deepwater exploration well on its AREA OFF-6 block, potentially as soon as the second half 2026.

The Company also notes the announcement by Galp of agreements whereby TotalEnergies will acquire from Galp a 40% stake in PEL 83 in Namibia and assume operatorship, in exchange for 10% of PEL 56 (home to the Venus discovery), 9.39% of PEL 91, and a funding / partial carry arrangement for PEL 83. TotalEnergies and Galp agreed to launch an exploration and appraisal campaign on PEL 83, including three wells over the next two years, with a first well planned in 2026, to further derisk resources and progress diligently toward the development of the Mopane discovery. Sintana Energy, the proposed acquiror of the Company pursuant to a scheme of arrangement announced on 9 October 2025, holds a 4.9% indirect carried interest in PEL 83.

Eytan Uliel, CEO of Challenger Energy, said: 

"The issue of permits for seismic acquisition in Uruguay is an important milestone, which should be understood more generally in the context of increasing activity and industry interest in Uruguay's offshore, and we thus look forward to what we expect will be value-adding progress over the coming months. This comes as we approach completion of our transformative transaction with Sintana Energy, and we are thus equally excited by the news that TotalEnergies will be taking a major position in PEL 83, Sintana Energy's flagship asset in Namibia. Further updates will be provided as to progress of the seismic campaign at AREA OFF-1, progress at PEL 83, and developments more broadly in Namibia, Uruguay and Angola, once Challenger Energy is a part of the broader Sintana Energy group, a process which we expect will finalise in the near term".

For further information, please contact:

Notes to Editors

Challenger Energy is an Atlantic-margin focused energy company, with a current high-impact position in Uruguay, where the Company holds two offshore exploration licences, totalling 19,000km2 (gross) and is partnered with Chevron on the AREA-OFF 1 block. Challenger Energy is quoted on the AIM market of the London Stock Exchange and the OTCQB in the United States.

https://www.cegplc.com 

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