AGEL’s new PPA:  Adani Green Energy Ltd (AGEL), a renewable energy major, has finalised a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). The agreement includes the supply of 1,799 MW of solar power for a contractual period of 25 years. This development marks the completion of AGEL's commitment to the entire 8,000 MW manufacturing-linked solar tender awarded by SECI in June 2020.

The company has operationalised a manufacturing plant with a 2 GW annual capacity through its subsidiary, Mundra Solar Energy Ltd (MSEL), located in Mundra, Gujarat. AGEL holds a 26 per cent stake in MSEL via its wholly-owned subsidiary, Adani Renewable Energy Holding Four Ltd.

Atmanirbhar Bharat vision

Amit Singh, CEO, Adani Green, reiterated AGEL’s focus on building within India and achieving the delivery of 45 GW of renewable energy, which is 5 folds of its current operating portfolio. 

Image credit: Unsplash

Singh said,  “Adani Green is committed to not only enabling India’s decarbonisation 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 with India’s target of 500 GW non-fossil fuel capacity by 2030, Adani Green is determined to deliver over 45 GW of renewable energy, a five-fold increase from our current operating portfolio. This reaffirms our resolve to provide affordable and accessible clean energy.”

With this recent PPA, AGEL's consolidated portfolio now includes PPAs totalling 19.8 GW, with the remaining capacity designated as merchant capacity within its locked-in 20.6 GW portfolio. 

The company has secured over 2 lakh acres of land in resource-rich regions of India, positioning its portfolio for the successful execution of 45 GW capacity by 2030.