New Delhi: Adani Green Energy Limited (AGEL) on Monday said it has finalised a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to deliver 1,799 MW of solar power. The signing of this balanced PPA marks the completion of the power offtake agreements for the entire 8,000 MW manufacturing-linked solar tender awarded to AGEL by the SECI in June 2020, according to a statement from the company.
AGEL to supply 1,799 MW of solar power
According to the statement, AGEL has announced the execution of a PPA with the SECI to supply 1,799 MW of solar power. "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 renewable energy, a five-fold increase from our current operating portfolio," Amit Singh, CEO, AGEL, said in the statement.
The Adani Group company has progressed on the commitments of the SECI manufacturing-linked solar photovoltaic tender, including setting up 2 GW of photovoltaic cell and module manufacturing facilities. "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)," it stated.
Adani Green now has tied up PPAs of 19.8 GW
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 the balance is merchant capacity in its 20.6 GW locked-in portfolio, it stated. With over 2 lac 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, the statement added.
"Adani Green is committed to not only enabling India's decarbonisation goals but also contributing towards the Atmanirbhar Bharat vision. We are glad to conclude the largest green PPA and enable a sustainable energy landscape," said Amit Singh, CEO, Adani Green Energy.
"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," Singh added.
(With agencies input)
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