Mumbai: Adani Green Energy (AGEL) recently announced the finalisation of a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). The agreement entails the supply of 1.79 gigawatts (GW) of solar electricity, marking the culmination of a larger 8 GW tender (recognised as the world’s largest) won by Adani in June 2020.
AGEL has commissioned a 2 GW per annum solar PV cell and module manufacturing plant in Mundra, Gujarat, to fulfil its obligations to SECI. AGEL holds a 26% stake in Mundra Solar Energy Ltd, facilitated through the former’s wholly-owned subsidiary, Adani Renewable Energy Holding Four Ltd.
With this latest PPA, AGEL has now secured agreements for 19.8 GW out of its 20.6 GW locked-in portfolio. The remaining capacity is earmarked for sale in the market. Currently, AGEL boasts the largest operating renewable portfolio in India, standing at 8.4 GW spread across 12 states. The company has set an ambitious target of producing 45 GW of renewable energy by 2030.
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