Adani Green Energy Ltd has announced the execution of a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 1,799 mw of solar power.
With the signing of this balance PPA, AGEL has completed the power off-take tie-up for the entire 8,000 mw manufacturing-linked solar tender awarded to it by SECI in June 2020, which set a record for being the world’s largest solar tender.
AGEL has progressed on the commitments of the SECI manufacturing-linked solar PV tender, including setting up 2 GW of PV cell and module manufacturing facilities. AGEL has already commissioned a solar PV cell and module manufacturing plant with capacity of 2 GW per year through its associate company Mundra Solar Energy Ltd (MSEL). The plant is located at Mundra, Gujarat. AGEL holds 26 per cent equity stake in MSEL through its wholly-owned subsidiary Adani Renewable Energy Holding Four Ltd.
With this, Adani Green now has tied up PPAs of 19.8 GW and balance is merchant capacity in its 20.6 GW locked-in portfolio. With over 2 lakh acres of land already tied up in resource rich areas of India, the portfolio is fully de-risked for execution of 45 GW capacity by 2030.
Five-fold increase
According to Amit Singh, CEO, Adani Green Energy Ltd. “Adani Green is committed to not only enabling India’s decarbonization goals but also contributing towards the Atmanirbhar Bharat vision. We are glad to conclude the largest green PPA and enable a sustainable energy landscape. Aligned to the India’s target of 500 GW non-fossil fuel capacity by 2030, Adani Green is determined to deliver in excess of 45 GW renewable energy, a five-fold increase from our current operating portfolio. This reaffirms our resolve to provide affordable and accessible clean energy.”
Also read: Adani Green Energy’s Operational Wind Capacity Crosses 1-GW Mark
Featured photograph (source: Adani Green Energy) is for representation only.
