The final PPA for the provision of 1,799 MW of solar power has been signed for a duration of 25 years.
AGEL, India's largest and one of the world's top renewable energy players, has announced the signing of a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to deliver 1,799 MW of solar electricity. AGEL has completed the power offtake tie-up for the whole 8,000 MW manufacturing-linked solar tender granted to it by SECI in June 2020, which established a record for being the world's largest solar tender, with the signing of this balance PPA.
Adani Green Energy Ltd (Image: AGEL)
AGEL has made progress on the SECI manufacturing-linked solar PV tender obligations, including the establishment of 2 GW of PV cell and module manufacturing facilities.
Through its affiliate firm Mundra Solar Energy Ltd (MSEL), AGEL has already commissioned a solar PV cell and module production factory with a capacity of 2 GW per year. Mundra, Gujarat, is the location of the facility. Through its fully owned subsidiary Adani Renewable Energy Holding Four Ltd, AGEL owns 26% of MSEL.
Adani Green currently has 19.8 GW of PPAs and the remaining is consumer capacity in its 20.6 GW locked-in portfolio. The portfolio is entirely de-risked for the implementation of 45 GW capacity by 2030, with over 2 Lacs acres of land already locked up in resource-rich areas of India.
Mr. Amit Singh is the CEO of Adani Green Energy Ltd. "Adani Green is dedicated to not only enabling India's decarbonization goals, but also to contributing to the vision of Atmanirbhar Bharat." We are pleased to have completed the largest green PPA and to have enabled a sustainable energy landscape. In line with India's aim of 500 GW of non-fossil fuel capacity by 2030, Adani Green intends to deliver more than 45 GW of renewable energy, a five-fold increase over our existing operational portfolio. This underscores our commitment to making sustainable energy affordable and accessible."