Final PPA to supply 1,799 MW solar power inked for a period of 25 years
Team News Riveting
Ahmedabad, December 25
Adani Green Energy Ltd (AGEL), India’s largest and among the world’s leading renewable energy players, has announced the execution of 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 offtake 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 a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL). The plant is located at Mundra, Gujarat. AGEL holds 26 per cent shares 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 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.
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.”
Adani Green Energy Limited (AGEL) is India’s largest and world’s leading renewable energy solutions partner enabling the clean energy transition. AGEL develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power plants. With a locked-in growth trajectory up to 20.6 Gigawatt (GW), AGEL currently has an operating renewable portfolio of 8.4 GW, the largest in India, spread across 12 states, offsetting over 41 million tonnes of CO2 emissions cumulatively. AGEL is credited with developing several landmark renewable energy power plants, the latest being the world’s largest wind-solar hybrid power cluster of 2,140 Megawatt (MW) in Jaisalmer, Rajasthan. The company has set a target of 45 GW by 2030 aligned to India’s decarbonization goals. AGEL is focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling largescale adoption of affordable clean energy. AGEL’s operating portfolio is certified ‘water positive for plants of more than 200 MW capacity’, ‘single-use plastic free’ and ‘zero waste-to-landfill’, a testament to the company’s commitment of powering sustainable growth.
