Companies

AGEL bags LOA 600 MW Wind-Solar Hybrid Power project

Our Bureau. Ahmedabad | Updated on January 01, 2021 Published on January 01, 2021

Adani Group’s, Adani Green Energy Limited (AGEL) informed that its wholly-owned subsidiary Adani Renewable Energy Holding Eight Limited has received Letter of Award (LOA) to set-up 600 Megawatt (MW) Wind-Solar Hybrid Power Project.

The company had participated in a tender issued by the Solar Energy Corporation of India (SECI) for setting up 1,200 MW ISTS-connected Wind-Solar Hybrid Power Project and it received the LOA on December 31, 2020.

The fixed tariff for this project capacity is ₹2.41/kWh for a period of 25 years. The project is expected to be commissioned in 18 months from the effective date of PPA, a company statement said on Friday. It will also annually offset approximately 1772.7 million Kg of CO2.

With this project, total renewable energy project capacity of AGEL now stands at 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW projects are under implementation.

Vneet S Jaain, MD & CEO, Adani Green Energy Ltd said, “The LOA of 600 MW Wind-Solar Hybrid Power Project is in line with our ambition to achieving renewable power capacity of 25 GW by 2025 and becoming the world’s largest renewable power company by 2030 and contribute significantly towards India’s decarbonisation targets. It also strengthens AGEL’s leadership position in Wind, Solar and Hybrid power generation in India.”

The Hybrid projects enables optimal utilisation of grid infrastructure, lead to a more sustainable integration of renewable energy and works as a key enabler for growth of renewable power in India, it added.

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Published on January 01, 2021
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