In a significant stride towards its ambitious renewable energy goals, Adani Green Energy (AGEL) has successfully concluded a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). This agreement, a part of the world’s largest 8 GW tender, signifies the supply of 1.79 gigawatts (GW) of solar electricity.
The PPA finalization follows AGEL’s triumph in winning the colossal 8 GW tender from SECI in June 2020, reinforcing its commitment to contribute substantially to India’s renewable energy capacity. AGEL’s dedication to meeting these commitments is underscored by the commissioning of a state-of-the-art 2 GW per annum solar PV cell and module manufacturing plant in Mundra, Gujarat.
To facilitate these operations, AGEL holds a 26% stake in Mundra Solar Energy Ltd, a strategic move executed through its wholly-owned subsidiary, Adani Renewable Energy Holding Four Ltd.
With the latest PPA, AGEL has now secured agreements for 19.8 GW out of its 20.6 GW locked-in portfolio. The remaining capacity is earmarked for sale in the market, highlighting AGEL’s strategic approach to optimizing its renewable energy assets.
Presently, AGEL stands as the proud owner of the largest operating renewable portfolio in India, boasting 8.4 GW spread across 12 states. The company’s ambitious vision includes a target of generating 45 GW of renewable energy by 2030, reaffirming its position as a key player in India’s transition to a sustainable energy future.
This development marks a significant milestone not only for Adani Green Energy but also for India’s renewable energy landscape, as it moves towards achieving greater energy security and sustainability.
