Adani Green Energy Ltd has successfully completed the execution of a power purchase agreement with the Solar Energy Corporation of India, securing the supply of 1,799 megawatts of solar power. This marks the culmination of the final segment of an 8,000 MW manufacturing-linked solar tender that Adani Green secured in 2020.
Adani Green Energy Ltd, a subsidiary of Adani Group, is one of the prominent names in India’s renewable energy sector. The company specializes in solar and wind energy projects and operates and develops a diversified portfolio of renewable assets across the country. With a focus on innovation and environmentally conscious practices, Adani Green Energy aims to contribute significantly to India’s renewable energy goals while pioneering efficient, clean energy solutions for a greener future.
Amit Singh, CEO of Adani Green Energy, said, “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 with India’s target of 500 GW non-fossil fuel capacity by 2030, Adani Green is determined to deliver in excess of 45 GW of 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 has recently issued a statement, “With this, Adani Green now has tied up PPAs of 19.8 (gigawatt) and the balance is merchant capacity in its 20.6 GW locked-in portfolio.” The company also added, “With over (200,000) 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.”
AGEL has made significant strides in fulfilling its commitments from the SECI manufacturing-linked solar PV tender. They’ve established 2 GW of PV cell and module manufacturing facilities, marking a substantial achievement. Through its affiliate company, Mundra Solar Energy Ltd (MSEL), AGEL has successfully inaugurated a solar PV cell and module manufacturing plant boasting a 2 GW annual capacity. Situated in Mundra, Gujarat, this facility is a testament to AGEL’s dedication. Adani Renewable Energy Holding Four Ltd, a wholly-owned subsidiary of AGEL, owns 26 percent of MSEL.
This development propels Adani Green’s total tied-up PPAs to 19.8 GW, with the remaining capacity falling under the category of merchant capacity within its 20.6 GW locked-in portfolio. Securing over 2 lac acres of land in resource-rich Indian regions is a strategic move that bolsters their portfolio. This land acquisition ensures a fully de-risked landscape for the execution of their ambitious plan to reach 45 GW capacity by 2030.
