Advertisement

Updated December 27th, 2021 at 21:03 IST

Adani Group bags Global Sponsor of the Year award for largest green energy generation feat

AGEL was recognised for its efforts toward being the key driver of the energy transition by setting up a platform to develop 45GW of RE by 2030. Read on.

Reported by: Harsh Vardhan
Adani Group
Image: Twitter/@Adani_Green/GautamAdani | Image:self
Advertisement

Indian business tycoon Gautam Adani-owned Adani Group's renewable energy arm Adani Green Energy Ltd (AGEL) won the Project Finance International’s (PFI) Global Sponsor of the Year award, making it the first Indian company to do so. According to an official release, AGEL was recognised for its efforts toward being the key driver of the energy transition by setting up a platform to develop 45GW of renewable energy generation capacity by 2030. As mentioned earlier, the AGEL is now the only Indian company in the list of PFI’s global award winners which include energy behemoths such as TOTALEnergies, Aramco, Ørsted and Enel.

Achievements of AGEL 

As stated by the release, the PFI, which is a renowned publication with prime focus on project finance reporting, highlighted the achievements of AGEL in the calendar year 2021. Among the many milestones achieved by the company includes its announcement of generating 25GW of Renewable energy by 2025, which was later raised to a new target of 45GW by 2030, at the COP26 summit in November this year. The company's new target now accounts for 10% of the Government of India’s 450GW countrywide renewable energy target. 

In addition to this, the subsidiary also acquired SB Energy India from SoftBank Group and Bharti for $3.5 billion adding another 5GW of operational and development projects to its portfolio. In the list of achievements also is AGEL's contribution in providing a push to the Government's aim of more solar equipment for domestic purposes. For that, the company has reportedly committed 1.5GW of new solar cells and modules manufacturing capacity in India with a capacity of 2GW per year by FY2022-23. Besides, signing of the world’s largest-ever Power Purchase Agreements (PPAs) for the solar energy generation of record-breaking 8GW with the Solar Energy Corporation of India's (SECI) is also one of AGEL's milestones. Talking about the achievement, Mr. Vneet S. Jaain, MD & CEO of AGEL said as per the company's release-

This is an encouraging recognition of our commitment and our multi-pronged approach to drive the energy transition through development and operation of renewable generation capacity of 45 GW by 2030. PFI’s recognition is testament to our continued focus on delivering on our business plan including our capital management program.

Image: Twitter/@Adani_Green/GautamAdani

Advertisement

Published December 27th, 2021 at 21:03 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

MEA Responds To China’s Comment On Sikh Separatist Gurupatwant Singh Pannun
7 minutes ago
Mukhtar Ansari Death
7 minutes ago
Dhara Gujjar
9 minutes ago
The ICJ has ordered Israel to ensure the smooth flow of aid to the people of Gaza.
14 minutes ago
UFC Exclusive Erin Blanchfield
17 minutes ago
Indian pharma sector
18 minutes ago
WWE Bloodline
19 minutes ago
Ramya on Uttarakaanda sets
23 minutes ago
Virat Kohli and Glenn Maxwell
24 minutes ago
Maharashtra Politics: Did Govinda Say Congress Ignored Him For 13 Years?
26 minutes ago
Torrent Power
29 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo