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Upon the signing of this balance PPA, AGEL has completed the offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender awarded to it by SECI in June 2020, which set a record for being the world’s largest solar tender.
With this, Adani Green now has tied up PPAs of 19.8 GW and remaining is merchant capacity in it’s 20.6 GW locked-in portfolio. With over 2 Lacs 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.
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. 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 (MSEL).
The plant is located at Mundra, Gujarat. AGEL holds 26% shares of MSEL through its wholly owned subsidiary Adani Renewable Energy Holding Four.
With this, Adani Green now has tied up PPAs of 19.8 GW and balance is merchant capacity in its 20.6 GW locked-in portfolio. With over 2 Lacs 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.
Amit Singh, CEO of Adani Green Energy said, “We are glad to conclude the largest green PPA and enable a sustainable energy landscape. 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.”
Adani Green Energy (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with overall portfolio of 20.4 gigawatt (GW) including operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
The company’s consolidated net profit soared 149.66% to Rs 372 crore in Q2 FY24 as compared with Rs 149 crore in Q2 FY23. Total income climbed 53.74% to Rs 2,589 crore in Q2 FY24 as compared with Rs 1,684 crore posted in corresponding quarter last year.
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