Adani Green Energy Limited (AGEL) has finalized a significant power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to deliver 1,799 MW of solar power. This marked the culmination of a comprehensive power agreement for the entire 8,000 MW manufacturing-linked solar tender awarded to AGEL by SECI in June 2020, as stated by the company.

AGEL's Agreement to Supply 1,799 MW Solar Power

In an announcement, AGEL confirmed the formalization of a PPA with SECI to supply 1,799 MW of solar power. Amit Singh, CEO of AGEL, expressed satisfaction, stating, "We are delighted to finalize the largest green PPA, contributing to a sustainable energy landscape. In alignment with India's aim to achieve 500 GW non-fossil fuel capacity by 2030, Adani Green is committed to delivering over 45 GW of renewable energy, a five-fold increase from our current operational portfolio."

Progress on SECI Commitments by AGEL

The Adani Group subsidiary has made significant strides in meeting the obligations of the SECI manufacturing-linked solar photovoltaic tender, including the establishment of 2 GW of photovoltaic cell and module manufacturing facilities. "AGEL has successfully operationalized a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associated entity Mundra Solar Energy Ltd (MSEL)," the statement confirmed.

Adani Green's Expanded PPAs to 19.8 GW  

Situated in Mundra, Gujarat, the manufacturing plant is operated by MSEL, where AGEL holds a 26% stake through its wholly-owned subsidiary Adani Renewable Energy Holding Four Ltd. With this development, Adani Green has secured PPAs totaling 19.8 GW, with the remaining capacity being merchant-based within its locked-in portfolio of 20.6 GW, the statement highlighted. Having secured over 2 lac acres of land in resource-rich Indian regions, the portfolio is deemed fully de-risked for executing the 45 GW capacity by 2030.

Amit Singh, CEO of Adani Green Energy, reiterated the commitment to India's decarbonization objectives and the Atmanirbhar Bharat vision. "We are pleased to conclude this significant green PPA, bolstering a sustainable energy infrastructure," Singh emphasized. "Aligned with India's target of 500 GW non-fossil fuel capacity by 2030, Adani Green is steadfast in surpassing 45 GW of renewable energy, signifying our dedication to providing affordable and accessible clean energy.”