Adani Green Energy signs largest PPA in the world, to supply 4,667 MW of renewable energy under the solar tender linked to the manufacturing of SECI

Adani Green Energy Ltd (AGEL), the world’s largest solar energy developer and renewable energy arm of the Adani Group, has signed an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green energy.

According to AGEL, this is the largest green electricity purchase contract ever concluded in the world.

The power purchase agreement to supply 4,667 MW is part of an 8,000 MW solar manufacturing-related tender awarded to AGEL by SECI in June 2020, which set a record for being the most major solar development tender in the world never awarded.

AGEL said it has signed PPAs with SECI for a total generation capacity of nearly 6,000 MW out of the 8,000 MW allocated in 2020. AGEL expects to close the balance of 2,000 MW PPA within the next two to three months.

“We are delighted to have signed the world’s largest PPA with SECI,” said Gautam Adani, President of the Adani Group. “This is a new step in our journey to enable India’s dual purpose of accelerating India’s renewable energy footprint as well as promoting domestic manufacturing under the Atmanirbhar Bharat program.”

In January 2020, Adani Green Energy and Azure Power won the first manufacturing-related solar tender launched by SECI. While the price of the solar tender allocated by SECI was set at Rs 2.92. Adani had bid for a solar cell manufacturing capacity of 1.5 GW and a production capacity of 6 GW, while Azure Power had bid for a solar cell manufacturing capacity of 500 MW and a production capacity of 2 GW.

Under the green shoe option, Adani’s capacity would increase to 2 GW of solar cell manufacturing capacity and 8 GW of generation capacity while for Azure it will be 1,000 MW of solar cell manufacturing and 4 GW of production capacity.

The Adani group was also one of 19 companies that bid for the establishment of solar energy manufacturing units under the government production incentive program (PLI).

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