Records another milestone in its vision to become the world’s largest renewables company by 2030
- Adani Renewable Energy Holding Eight Limited (“AREHEightL”), a wholly-owned subsidiary of Adani Green Energy Limited (“AGEL”) receives LOA for a 600 MW Wind-Solar Hybrid project
- AREHEightL participated in a tender issued by the Solar Energy Corporation of India (“SECI”) for setting up 1,200 MW ISTS (Inter-State Transmission Services) connected Wind-Solar Hybrid Power Project.
- The fixed tariff for this project is Rs. 2.41/ kWh for a period of 25 years.
- The project is expected to be commissioned in 18 months from the effective date of PPA
- With this, AGEL now has a total portfolio of 14,795 MW of renewable energy project capacity
- This project will annually offset approximately 1772.7 Million Kg of CO2
Ahmedabad, 1st January 2021: Adani Renewable Energy Holding Eight Limited (“AREHEightL”), a wholly-owned subsidiary of Adani Green Energy Limited (“AGEL”) on December 31, 2020 receives the Letter of Award (LOA) to set-up 600 MW Wind-Solar Hybrid Power Project. AREHEightL participated in a tender issued by the Solar Energy Corporation of India (“SECI”) for setting up 1,200 MW ISTS-connected Wind-Solar Hybrid Power Project.
The fixed tariff for this project capacity is Rs. 2.41/ kWh for a period of 25 years. The project is expected to be commissioned in 18 months from the effective date of PPA.
With this project, total renewable energy project capacity of AGEL now stands at 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW projects are under implementation.
This Wind-Solar Hybrid Project, strengthens AGEL’s pioneer position for RE Hybrid projects in India. Hybrid projects enables optimal utilisation of grid infrastructure, lead to a more sustainable integration of renewable energy and works as a key enabler for growth of renewable power in India.
Speaking on this development Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said, “Adani Green is committed to ramp up creation of a sustainable ecosystem for transitioning towards a greener future. The LOA of 600 MW Wind-Solar Hybrid Power Project is in line with our ambition to achieving renewable power capacity of 25 GW by 2025 and becoming the world’s largest renewable power company by 2030 and contribute significantly towards India’s decarbonization targets. It also strengthens AGEL’s leadership position in Wind, Solar and Hybrid power generation in India.”
About Adani Green Energy Limited
Adani Green Energy Limited (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios over 14 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include the National Thermal Power Corporation (NTPC) and Solar Energy Corporation of India (SECI) and various State Discoms. Listed in 2018, AGEL today is a USD 22.80 billion market cap company helping India meet its COP21 goals. Earlier this year, Mercom Capital, the US-based think tank ranked the Adani Group as the #1 global solar power generation asset owner.
(Sanket)