Adani Green Energy and SECI reach a deal for the delivery of 1,799 MW of solar energy

 Adani Green Energy and SECI reach a deal for the delivery of 1,799 MW of solar energy

Adani Green Energy and SECI reach a deal for the delivery of 1,799 MW of solar energy

According to a business release, AGEN has signed the last PPA to complete the power offtake tie-up for the whole 8,000 MW manufacturing-linked solar contract that SECI awarded in June 2020.

A power purchase agreement (PPA) for the provision of 1,799 MW of solar electricity was signed between Adani Green Energy (AGEL) and Solar Energy Corporation of India (SECI) on December 25. According to a business release, AGEN has signed the last PPA to complete the power offtake tie-up for the whole 8,000 MW manufacturing-linked solar contract that SECI awarded in June 2020.

The announcement claims that AGEN and SECI have signed a PPA for the provision of 1,799 MW of solar energy. "We are thrilled to have completed the biggest green PPA and made it possible for a sustainable energy environment. Adani Green is committed to supplying over 45 GW of renewable energy, which is a five-fold increase from our present operational portfolio, in line with India's aim of 500 GW non-fossil fuel capacity by 2030, according to a statement from Agel CEO Amit Singh.

AGEN has fulfilled its obligations under the SECI manufacturing-linked solar PV tender, including the establishment of 2 GW of facilities for the production of PV cells and modules. With its subsidiary Mundra Solar Energy Limited (MSEL), AGEL has already put in place a 2 GW annual capacity solar PV cell and module production facility.

Mundra, Gujarat, is the location of this facility. Through its fully owned subsidiary Adani Renewable Energy Holding Four Limited, AGEN controls 26% of the shares in MSEL. As a result, Adani Green currently has 19.8 GW of committed PPAs and has merchant capacity in its locked-in portfolio of 20.6 GW. Where did it disappear to?

The portfolio has already committed more than 2 lakh acres of land in resource-rich areas of India, meaning that the execution of 45 GW of capacity by 2030 is fully de-risked, according to the statement.