AREHEightL bagged the capacity in an auction by the Solar Energy Corporation of India (SECI) to set up a 1.2 GW ISTS-connected wind-solar hybrid power project.
The tariff payable for the electricity generated from this project capacity is fixed at INR 2.41/kWh for 25 years.
The project is expected to be commissioned in 18 months from the effective date of the power purchase agreement (PPA).
With this project, Adani Green Energy’s total renewable energy project capacity now stands at 14,795 MW, including 2,950 MW operational and 11,845 MW under-implementation.
Speaking on this development, Vneet S. Jaain, MD and CEO, Adani Green Energy Ltd said, “Adani Green is committed to ramping up creating a sustainable ecosystem for transitioning towards a greener future. The Letter of Award for 600 MW wind-solar hybrid power project is in line with our ambition to achieve a renewable power capacity of 25 GW by 2025 and become the world’s largest renewable power company by 2030 and contribute significantly towards India’s decarbonization targets. It also strengthens AGEL’s leadership position in the wind, solar and hybrid power generation in India.”
Adani Green Energy’s total income in H1 FY 2020-21 rose to INR 1596 crore from INR 1387 crore in H1 FY 2019-20, recording a 15% year-on-year increase. The net profit jumped to INR 39.32 crore from INR 4.8 crore in H1 FY 2019-20.
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