Adani Group

The French oil and gas giant already owns half the stake in the Indian developer’s 2.3 GW operational solar assets in India through a joint venture.

The purchased solar portfolio is relatively young, with average remaining power purchase agreement life of around 21 years.

India’s largest private-sector thermal power producer—which ranked as the sixth-largest solar player globally in 2019—has climbed to the top spot following a Solar Energy Corporation of India (Seci) award to develop 8 GW of Indian solar project capacity.

The French oil and gas giant—which is already a partner in Adani’s natural gas business—will now invest US$ 510 million to buy 50% stake in 2,148 MWac operating solar power projects owned by Adani Green Energy Limited.

India’s largest private-sector thermal power producer—which ranked as the sixth largest solar player globally in 2019—will invest over 70% of its budgeted Capex for the energy vertical into clean energy and energy-efficient systems to fuel its transformation.

Chinese solar modules currently meet around 80% of India’s demand. Domestic modules face stiff competition from those imported from China, which cost 10-20% less, even after the imposition of safeguard duties.

Head of industrial conglomerate makes pledge at Vibrant Gujarat Summit as part of his company’s ambition to install 10 GW of renewables capacity by 2022.

The Gujarati multinational will invest Rs700 billion to set up world’s first 100% renewable powered data center parks in the state.

Adani Group has signed a MoU with Andhra Pradesh government for the development of more than 1 GW of renewable energy in the state.