AGEL has progressed on the commitments of the SECI manufacturing-linked solar PV tender, including setting up 2 GW of PV cell and module manufacturing facilities 

A power purchase agreement (PPA) for the provision of 1,799 MW of solar power was signed by Adani Green Energy (AGEL) and the Solar Energy Corporation of India (SECI) on Monday. With this arrangement, the power offtake tie-up for the full 8,000 MW manufacturing-linked solar tender, which was granted to AGEL by SECI in June 2020, is completed. AGEL has committed to building 2 GW of PV cell and module production facilities as part of the SECI manufacturing-linked solar PV tender.

The achievement was highlighted by AGEL CEO Amit Singh, who said, “We are glad to conclude the largest green PPA and enable a sustainable energy landscape.” He went on to say that AGEL is committed to helping India reach its 2030 goal of 500 GW of non-fossil fuel capacity. The company wants to provide over 45 GW of renewable energy, which is a significant increase from its existing operating portfolio.

By establishing a solar PV cell and module manufacturing facility in Mundra, Gujarat, with a 2 GW annual capacity through its affiliated firm Mundra Solar Energy  (MSEL), AGEL has already demonstrated that it is fulfilling its pledges. With a wholly-owned subsidiary called Adani Renewable Energy Holding Four Ltd., AGEL currently owns 26 per cent  of the shares in MSEL. The business has secured PPAs for 19.8 GW of capacity, with the remaining capacity being merchant in its 20.6 GW locked-in portfolio.

According to the release, AGEL’s portfolio is considered fully de-risked for the execution of the 45 GW capacity target by 2030, having already secured over 2 lac acres of land in resource-rich areas of India.