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

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