Adani Green Concludes PPA For Entire 8GW Manufacturing-Linked SECI Tender

Adani Green Energy Ltd (AGEL) has announced the execution of 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 SECI in June 2020, which set a record for being the world’s largest solar tender.

The firm in a media release today said that 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). The plant is located at Mundra, Gujarat. AGEL holds 26% shares of MSEL through its wholly owned subsidiary Adani Renewable Energy Holding Four Ltd,” the firm said.

With this, Adani Green now has tied up PPAs of 19.8 GW and balance is merchant capacity in its 20.6 GW locked-in portfolio. With over 2 Lacs 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.

Amit Singh, CEO, Adani Green Energy Ltd. “Adani Green is committed to not only enabling India’s decarbonization goals but also contributing towards the Atmanirbhar Bharat vision. We are glad to conclude the largest green PPA and enable a sustainable energy landscape. Aligned to the 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. This reaffirms our resolve to provide affordable and accessible clean energy.”

This final execution was stuck for a while due to lack of PPA signing with SECI. Local electricity distribution firms were holding back from signing up as they expected cheaper rates. So the linked manufacturing plan was also delayed. The new development has given a new hope to the Indian renewable firm and expanded its total portfolio.

In 2020, Adani Green secured the tender floated by the SECI for developing solar power projects of 8GW. This also included setting up solar cell and solar module manufacturing capacities of upto 2 GW. The SECI tender was touted as world’s largest single-bid with such mammoth capacities.