Adani Green Energy Inks World’s Largest PPA, To Supply 4,667 MW Renewable Energy As Part Of SECI’s Manufacturing-Linked Solar Tender
Adani Green Energy Ltd (AGEL), the world’s largest solar power developer and the renewable energy arm of the Adani Group, has inked an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power.
According to AGEL, this is world’s largest ever green power purchase agreement.
The power purchase agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which set a record for being the world’s largest solar development tender ever awarded.
AGEL said that it has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months.
“We are pleased to have signed the world’s largest PPA with SECI,” said Gautam Adani, Chairman of the Adani Group. “This is yet another step in our journey to enable India’s dual objective to accelerate India’s renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme.”
In Jan 2020, Adani Green Energy and Azure Power have won the first manufacturing-linked solar tender floated by SECI. While the tariff for the solar tender awarded by SECI has been fixed at Rs 2.92. Adani had bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity, whereas Azure Power had bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity.
Under the green shoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity while for Azure, it will be 1,000 MW solar cell manufacturing and 4 GW generation capacity.
Adani Group was also among the 19 firms that have bid for setting up solar manufacturing units under the government’s production linked incentive (PLI) scheme.