AGEL inks PPA with SECI

New Delhi: Adani Green Energy (AGEL) on Monday said it has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power.

With the signing of this balance PPA, AGEL has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender awarded to it by the SECI in June 2020, a company statement said. According to the statement, AGEL has announced the execution of a PPA with the SECI to supply 1,799 MW of solar power.

“We are glad to conclude the largest green PPA and enable a sustainable energy landscape. Aligned to India’s target of 500 GW non-fossil fuel capacity by 2030, Adani Green is determined to deliver in excess of 45 GW renewable energy, a five-fold increase from our current operating portfolio,” Amit Singh, CEO, AGEL, said in the statement. AGEL has progressed on the commitments of the SECI manufacturing-linked solar PV tender, including setting up 2 GW of PV cell and module manufacturing facilities. AGEL has already commissioned a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL), it stated. The plant is located at Mundra, Gujarat.

AGEL holds 26 per cent shares of MSEL through its wholly-owned subsidiary Adani Renewable Energy Holding Four Ltd. With this, Adani Green now has tied up PPAs of 19.8 GW and the balance is merchant capacity in its 20.6 GW locked-in portfolio, it stated. With over 2 lac acres of land already tied up in resource rich areas of India, the portfolio is fully de-risked for execution of 45 GW capacity by 2030, the statement added.