Adani Green Energy Generation Capacity Rises to 2.5 GW in FY20

Adani Green Energy has announced that its power generation capacity saw a 30 percent rise, climbing up to 2,545 MW in FY 2019-20.

Clean energy firm Adani Green Energy Ltd (AGEL) has announced that its power generation capacity saw a 30 percent rise, climbing up to 2,545 MW in FY 2019-20, while total electricity supplies jumped 14.5 percent to 4,310 million units (MU) during the fiscal.

“AGEL has added 587 MW capacity in FY20 and net export (power supply to consumer) of 4,310 million units, up by 14.5 percent Y-o-Y,” a company statement said. Its power generation capacity rose to 2,545 MW in 2019-20 from 1,958 MW in 2018-19. Its solar power generation capacity rose by 250 MW from 1,898 in 2018-19 to 2,148 MW in 2019-20. Similarly, its wind energy capacity rose by 337 MW to 397 MW in the last fiscal from 60 MW a year ago.

On the impact of lockdown to contain COVID-19, the company said, “Electricity generation has been specified as an essential service amid lockdown.” Besides, the company recognised that the must-run status of all renewable energy (RE) projects in India remains unchanged even during the lockdown period. It also noted that there is no moratorium applicable to payments for RE generation.

The Ministry of Power had clarified to all state governments that obligation to pay for power supplied by IPPs (independent power producers) remains unchanged and bills need to be settled within 45 days of presentation of a bill or as provided in the PPA (power purchase agreement).

It also said, “All solar and wind plants are in operation as per the normal business course. Electricity generated from all plants is being off-taken on a continuous basis in normal course. It is receiving regular payments from all the Discoms.”

Earlier, we had reported that French multinational energy company Total had invested about Rs 3,707 crore, through its step-down subsidiary, to form 50:50 JV with Adani Green Energy Ltd (AGEL). The move came after the regulatory body – the Competition Commission of India (CCI) — has provided its nod for the formation of a JV between the two companies in the power generation business through solar energy in India. Further, the JV houses 2.148 GW of operating solar projects operating across 11 states in the country.