Adani Green executes 1799 MW solar power PPA with SECI
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
Following a document made to the stock exchange on Monday, Adani Green Energy and the Solar Energy Corporation of India have completed a power purchase agreement (PPA), signifying the provision of 1,799 MW of solar power. With this move, Adani Green has fulfilled its power offtake obligations for the 8,000 MW manufacturing-linked solar tender won in June 2020. The company has made great strides towards fulfilling the requirements of the manufacturing-linked solar PV tender issued by the Solar Energy Corporation of India (SECI). Among these responsibilities is the creation of 2 GW of PV cell and module manufacturing facilities.
In Mundra, Gujarat, Adani Green has already built a 2 GW annual capacity solar PV cell and module production facility into service. Adani Green Energy holds a 26 per cent ownership stake in the project, which is operated by its affiliated firm Mundra Solar Energy. (MSEL) through its wholly-owned subsidiary Adani Renewable Energy Holding Four.
Adani Green has successfully obtained PPAs for a total capacity of 19.8 GW with this most recent PPA; the remaining capacity is merchant capacity within its 20.6 GW locked-in portfolio. In resource-rich regions of India, the company has strategically secured over 200,000 acres of land, guaranteeing a completely de-risked portfolio to complete 45 GW of capacity by 2030.
Adani Green Energy CEO, Amit Singh, expressed happiness that the largest green PPA was concluded and underlined the company’s dedication to providing over 45 GW of renewable energy, in line with India’s goal of reaching 500 GW of non-fossil fuel capacity by 2030. The CEO reaffirmed the company’s commitment to offering renewable energy that is both accessible and reasonably priced. With 8.4 GW of renewable energy installed across 12 states, Adani Green presently manages the largest renewable portfolio in India, offsetting more than 41 million tonnes of CO2 emissions annually.
