Gujarat-based Adani Green Energy Ltd (AGEL) has signed an agreement with Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power.
This is the world’s largest-ever green power purchase agreement, the company said in a statement.
“We are pleased to have signed the world’s largest PPA with SECI,” said Gautam Adani, group chairman.
“This is yet another step in our journey to enable India’s dual objective to accelerate its renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme,” he added.
Following the proceedings at COP 26 at Glasgow in the U.K., it is increasingly evident that the world has to equitably transition to a low-carbon economy faster than previously anticipated.
According to Mr. Adani, the Adani Group has committed $50-$70 billion of investment in the renewables space in coming years.
“This agreement keeps us well on track to our commitment to become the world’s largest renewables player by 2030.”
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.
So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6,000 MW of the 8,000 MW awarded in 2020.
The company expects to close the balance 2,000 MW PPA in the next two to three months.