Companies

Adani Green bags SECI deal to develop 8 GW of solar projects

Our Bureau Mumbai | Updated on June 09, 2020 Published on June 09, 2020

Adani Green Energy Limited (AGEL) has won the first-of-its-kind manufacturing-linked solar agreement from Solar Energy Corporation of India (SECI). As a part of the award, AGEL will develop 8 GW of solar projects, along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity. This project will entail an investment of ₹45,000 crore, and is expected to create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime.

“With this win, AGEL will now have 15 GW capacity under operation, construction or under contract, thereby accelerating its journey towards becoming the world’s largest renewables company by 2025. This award will take the company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025, which, in turn, will see it committing an investment of ₹112,000 crore ($15 billion) in the renewable energy space over the next five years,” said Adani Green Energy in a press statement.

Gautam Adani, Chairman of the Adani Group, said: “The fact that renewable power will transition into becoming the world’s cleanest and most economical fuel is a foregone conclusion and Adani Group intends to play a leading role in this journey. This award is yet another step in our nation’s climate change promise to the world as well as enabling our nation’s Atma Nirbhar Bharat Abhiyan (Self-Reliant India Program). It is another step towards fulfilling our Group’s Nation Building vision.”

Manufacturing facility

Based on the award agreement, the 8 GW of solar development projects will be implemented over the next five years. The first 2 GW of generation capacity will come online by 2022, and the subsequent 6 GW capacity will be added in 2 GW annual increments through 2025.

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Published on June 09, 2020
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