Adani Green Energy Ltd (AGEL), a prominent player in the global renewable energy sector, has successfully executed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for the supply of 1,799 MW of solar power. This development marks the completion of the power offtake arrangements for the entire 8,000 MW manufacturing-linked solar tender awarded to AGEL by SECI in June 2020, establishing a record as the world’s largest solar tender.
AGEL has diligently progressed on the commitments outlined in the SECI manufacturing-linked solar PV tender, including the establishment of 2 GW of PV cell and module manufacturing facilities. A solar PV cell and module manufacturing plant with a capacity of 2 GW per annum has already been commissioned by AGEL through its associate company, Mundra Solar Energy Ltd (MSEL), situated in Mundra, Gujarat. AGEL holds a 26% stake in MSEL through its wholly-owned subsidiary, Adani Renewable Energy Holding Four Ltd.
With the completion of this agreement, Adani Green has successfully secured PPAs for a total of 19.8 GW, leaving a balance of merchant capacity in its locked-in portfolio, which stands at 20.6 GW. The portfolio, covering over 2 lakh acres of land in resource-rich areas of India, is fully de-risked, providing a solid foundation for the execution of 45 GW capacity by 2030.
Amit Singh, CEO of Adani Green Energy Ltd, expressed the company’s commitment to supporting India’s decarbonization goals and contributing to the vision of Atmanirbhar Bharat. Singh stated, “We are glad to conclude the largest green PPA and enable a sustainable energy landscape. Aligned with India’s target of achieving 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’s latest achievement underscores its pivotal role in driving India’s transition towards renewable energy sources and reinforces its position as a key player in the global renewable energy landscape.
