Adani Green Energy Ltd (AGEL), one of 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.
According to a media release by the company, Adani Green Energy, with the signing of this balance PPA, 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.
The Adani group firm 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.
Adani Green Energy 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 lakh acres of land parcel 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 at 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 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.”