Adani Green Energy Seals 25-Year Deal with Solar Energy India for 1,799 MW Solar Power

Pattern Energy’s Futtsu Solar Power Facility in Futtsu-shi, Chiba, Japan

Adani Green Energy (AGEL) has finalized a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 1,799 megawatts (MW) of solar power over a 25-year period, IANS reports.

This announcement was confirmed by an official on Monday, marking the culmination of the power offtake arrangement for the complete 8,000 MW manufacturing-linked solar tender granted by SECI back in June 2020.

AGEL’s CEO, Amit Singh, highlighted the company’s commitment to bolstering a sustainable energy landscape, aligning with India’s decarbonization objectives and contributing significantly to the Atmanirbhar Bharat (Self-Reliant India) initiative.

“As part of our commitment to India’s goal of achieving 500 GW non-fossil fuel capacity by 2030, Adani Green is resolute in surpassing 45 GW of renewable energy — representing a five-fold increase from our current operational portfolio. This reaffirms our dedication to delivering affordable and accessible clean energy,” Amit Singh said.

Furthering their obligations under SECI’s solar PV tender, which includes establishing 2 GW of PV cell and module manufacturing facilities, AGEL commissioned a 2 GW per annum solar PV cell and module manufacturing plant through its affiliate, Mundra Solar Energy Ltd. (MSEL), situated in Mundra, Gujarat. AGEL holds a 26 percent stake in MSEL through its wholly-owned subsidiary, Adani Renewable Energy Holding Four.

AGEL disclosed that it has secured PPAs totaling 19.8 GW, with the remaining capacity constituting merchant capacity within its 20.6 GW locked-in portfolio.

The company ensured the full de-risking of its portfolio for executing the planned 45 GW capacity by 2030, having already tied up over 200,000 acres of land across 12 states in resource-rich areas of India.

AGEL specializes in developing, owning, and operating utility-scale grid-connected solar, wind, and hybrid renewable power plants, boasting the largest operating renewable portfolio in India at 8.4 GW, offsetting over 41 million tonnes of CO2 emissions cumulatively.

AGEL recently unveiled the world’s largest wind-solar hybrid power cluster totaling 2,140 MW in Jaisalmer, Rajasthan.

The company emphasizes leveraging technology to reduce the Levelised Cost of Energy (LCOE), striving to facilitate widespread adoption of cost-effective clean energy.

AGEL’s operational portfolio has earned certifications as ‘water-positive for plants of more than 200 MW capacity,’ ‘single-use plastic-free,’ and ‘zero waste-to-landfill,’ underscoring the company’s unwavering dedication to fostering sustainable growth.