Adani Green Energy Ltd. signed a power power purchase agreement with the state-run Solar Energy Corporation of India to supply 1,799-megawatt solar power.
With this, the Adani Group company has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender, the largest in the world, awarded to it by SECI in June 2020, according to an exchange filing. The final agreement to supply 1,799 MW solar power is inked for a period of 25 years, it said.
The green energy company made progress on tender commitments and commissioned a solar PV cell and module manufacturing plant with a capacity of 2 gigawatts per annum through its associate company Mundra Solar Energy Ltd., the statement said. Adani Green holds 26% stake in the unit through its wholly owned subsidiary Adani Renewable Energy Holding Four Ltd.
Adani Green now has tied up power-purchase pacts for 19.8 GW of 20.6 GW locked-in portfolio. The rest is merchant capacity. With over 2 lakh 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 company said.
“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," Amit Singh, chief executive officer at Adani Green Energy, said in a statement accompanying the filing. "This reaffirms our resolve to provide affordable and accessible clean energy.”
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