Adani Green Energy Ltd (AGEL) has announced the signing of a power purchase agreement (PPA) with the Solar Energy Corp. of India (SECI) to supply 1,799 MW of solar power. With the signing of this PPA, AGEL has completed the power offtake tie-up for the entire 8 GW of solar power generation capacity secured under SECI’s manufacturing-linked solar tender in June 2020, which set a record for being the world’s largest solar tender.
Under the SECI tender, AGEL was awarded 8 GW of solar power generation projects (including the greenshoe option) in return for agreeing to set up 2 GW of PV cell and module manufacturing facilities.
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. It has already commissioned a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL). The plant is located at Mundra, Gujarat. AGEL owns 26% of 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 the balance is merchant capacity in its 20.6 GW locked-in portfolio. With over 2 lacs 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,” stated AGEL.
Amit Singh, CEO, Adani Green Energy Ltd, said, “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.”
Adani Green Energy Ltd (AGEL), with an operating renewable energy portfolio of 8.4 GW, is India’s largest and one of the world’s leading RE solutions partners. It develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power plants. The company targets 45 GW of installed RE capacity by 2030 aligned to India’s decarbonization goals.
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