The PV plant—to be set up in Gujarat—will supply power for INR2.22/kWh for 25 years.
The latest addition in Chitrakoot follows the commissioning of a 25 MW solar plant in January this year.
The developer added 825 MW of solar capacity during the fiscal. This, together with 100 MW of new wind, raised the developer’s total operating renewable capacity to 3,470 MW.
Following 75 MW solar assets in Telangana, Adani Green Energy has completed the acquisition of 20 MW PV assets in Uttar Pradesh for INR 133 crore.
The solar capacity—comprising two plants of 50 MW each—were completed ahead of schedule despite adverse conditions amidst Covid-19. The plants benefit from 25-year power purchase agreements with Uttar Pradesh Power Corporation Limited, at INR 3.22/kWh and INR 3.19/kWh, respectively.
The 150 MW solar plant in Kutchh is Adani Green Energy’s third PV commissioning within a month. Its other two solar capacities that became operational since December end include 100 MW at Khirsara, Gujarat, and 25 MW at Chitrakoot in Uttar Pradesh.
The solar plant in Chitrakoot takes Adani Green Energy’s total operational renewable capacity to 2975 MW—a step closer to its vision of 25 GW capacity by 2025.
With this project, Adani Green Energy’s total renewable energy project capacity has swelled to 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW under implementation.
Indian solar sector remained buoyant even amid Covid pandemic as 15.3 GW of solar capacity (including solar-wind hybrid) was sanctioned in the current year’s first half itself. However, returns expectations from equity investments rose from around 14% in the first half of 2019 to 16-17%, indicating heightened risk perceptions among investors.
The latest addition takes Adani Green Energy’s operational renewable energy capacity to 2,850 MW, including 2353 MW under a joint venture with French oil and gas major Total.
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