In a major boost to renewable energy generation, Adani Green Energy Ltd (AGEL) has inked the world’s largest power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI).
In a statement, the Adani Group informed, “The AGEL-SECI 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.”
Adani Group chairman Gautam Adani also took to Twitter to confirm the development. “After becoming the world’s largest solar power developer, Adani Green has signed the world’s largest ever green power purchase agreement with SECI to supply 4,667 MW. This will accelerate India’s RE footprint and promote manufacturing under Atmanirbhar Bharat. Jai Hind,” he wrote.
After becoming the world’s largest solar power developer, @AdaniGreen has signed the world’s largest ever green power purchase agreement with @SECI_Ltd to supply 4,667 MW. This will accelerate India’s RE footprint and promote manufacturing under Atmanirbhar Bharat. Jai Hind.
— Gautam Adani (@gautam_adani) December 14, 2021
“Following the proceedings at COP 26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed US$50-$70 Bn of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world’s largest renewables player by 2030,” Gautam Adani had said in a statement.
As of now, AGEL has signed a pact for a total of 6000 MW of green power generation with SECI. The remaining 2000 MW pact will be sealed in the coming 2-3 months. The firm has a total operational and under construction power generation portfolio of 20.3 GW. AGEL has signed a deal with France’s total for 25GW green power generation by the year 2025. For an investment of $2.5 billion, Total has acquired a 20% stake in AGEL.
