NEWS

Adani inks pact with SECI to supply 4,667 MW renewable energy

Dec 14, 2021

Adani Green Energy (AGEL) has inked a pact with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy.

According to a company statement, this is the world's largest ever green power purchase agreement (PPA).

"This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Aatmanirbhar Bharat programme, said Gautam Adani, Chairman of the Adani Group.

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, he noted.

This is why the Adani Group has committed USD 50-USD 70 billion 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," Adani added.

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.

So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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