Adani Commissions 200 MW Solar Project in Rajasthan

Adani Green Energy has commissioned the balance 100 MW solar capacity in the state of Rajasthan out of the 200 MW capacity it was awarded by MSEDCL

Adani Green Energy, through its step-down subsidiary Adani Renewable Energy (RJ,) has announced the commissioning of the balance 100 MW capacity on August, 21 2019, in the state of Rajasthan out of the 200 MW solar power project capacity that the group had won in an conducted by the Maharashtra State Electricity Distribution Company Limited (MSEDCL).

The company has already agreed on a Power Purchase Agreement (PPA) with MSECL with a fixed tariff rate of Rs. 2.71/kWh for a period of 25 years.

According to the company, the first batch or the first 100 MW capacity of the plant had been commissioned earlier in the month on August 2, 2019.

In July, we reported that Adani Green Energy (AGEL) plans to add over 800 MW of renewable energy projects in the current financial year and 3300 MW in two more years. “

Adani Green Energy plans to add over 800 MW of new capacity of wind and solar projects during the current financial year. The firm is one of the fastest-growing renewable energy firms with over 2000 MW of operational assets and 3300 MW capacity to be commissioned in two more years to become 5,000 MW renewable entity by 2022. It is considering fundraising drive through suitable instruments to finance this expansion,” the company had issued in a statement.

It was reported that the company management has sought shareholders’ nod to raise up to Rs 5,000 crore to fund its existing and upcoming renewable energy projects.

In May, Adani Solar, the solar manufacturing arm of the Adani Group had set sights for acquiring 50 percent market share in the next two years.

“As 80 percent of solar panels available in the country are made in China, the company is manufacturing module and panels, which were cheaper and durable, for Indian markets,” general manager (business development) of Adani Solar, Cecil Augustine told reporters.