Adani Solar Signs MoU With Almiya Group, To SetUp 225 MW Solar Farm In Kerala

Adani Solar Signs MoU With Almiya Group, To SetUp 225 MW Solar Farm In Kerala

Adani Solar, the solar PV manufacturing arm of the Adani Group has announced that it has signed a Memorandum of Understanding (MoU) with the Kochi-based Almiya Group. The company is a well-known solar distributor, to solidify its presence in the region. Adani Solar also laid out the plan to build a 225 MW solar power facility in Purapura within a year as part of its expansion strategy, read a media statement from the company.

Adani Solar intends to build a 225 MW solar power facility in Purapura within a year as part of its expansion strategy. The business has also set up a warehouse in Coimbatore to guarantee quicker shipping of solar panels to Tamil Nadu and Kerala.

“We are growing our company in Kerala. We installed 70 MW of solar panels in Kerala just in 2023. Adani Group has big aspirations for Kerala, and the state has a lot of potential in the solar energy sector,” said Cecil Augustine, National Sales Head of Adani Solar, at a press conference.

Augustine highlighted how much better their solar panels from India are than others on the Asian market, citing their increased production capability. The Memorandum of Understanding with Almiya Group is anticipated to increase Adani Solar’s market share in Kerala. Almiya and Adani Solar have a long history together, having worked together on a 45 MW plant project in Tamil Nadu.

At present Adani Solar dominates the Indian home solar panel market with a 50% market share. Augustine also said Kerala’s potential in this field, pointing out that a typical family can install a domestic solar unit for about Rs 1.6 lakh, which can drastically lower electricity expenses and come with a 30-year warranty. Adani Group is also looking into using solar energy at the Vizhinjam International Sea Port, which Adani Ports is building.

Earlier this month, Gujarat-based Adani Energy Solutions Ltd (AESL), through its wholly-owned subsidiary Adani Transmission Step-Two Limited (ATSTL), acquired a 100% stake in Essar Transco Limited. The private transmission and distribution company has a growing smart metering portfolio. After obtaining requisite regulatory and other approvals the enterprise is valued at Rs.1,900 crores. The share acquisition is under definitive agreements signed in June 2022. The acquisition covers a fully operational 400 kV, 673 ckt km inter-state transmission line linking Mahan in Madhya Pradesh to the Sipat pooling substation in Chhattisgarh.