Adani Green executes 1799 MW solar power PPA with SECI
Adani Green Energy Ltd. has executed a power purchase agreement with Solar Energy Corporation of India to supply 1,799 MW of solar power, the company said in an exchange filing on Monday.
With this, Adani Green has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender it was awarded in June 2020.
«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,» the company said adding that 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% 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 the balance is merchant capacity in its 20.6 GW locked-in portfolio. 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.
“We are glad to conclude the largest green PPA and enable a sustainable energy landscape.
Aligned to 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," said Amit Singh, CEO, of Adani Green Energy Ltd.
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.
