Adani Green Secures Power for 8GW of Solar Projects
- Adani Green Energy Ltd. has achieved a milestone with an 8GW green power project portfolio, securing buyers for the entire capacity over 25 years. Stimulated by post-pandemic recovery, extreme weather and heightened electricity demand, Adani Green is geared up to invest $22 billion to expand capacity to 45GW by 2030.
Adani Green Energy Ltd. has achieved a milestone in its plan to increase green power capacity five-fold by 2030. The company has secured buyers for the entire 8 gigawatts of green power projects it won in a tender more than three years ago. This includes a 25-year contract with Solar Energy Corp. of India for the remaining 1.8 gigawatts of projects.
The deal marks a shift among state power retailers to sign long-term offtake contracts after a post-pandemic economic recovery, driven by extreme weather conditions and increased electricity demand in the country. Adani Green has 8.4 gigawatts of operating renewables portfolio and plans to invest $22 billion to expand the capacity to 45 gigawatts by 2030. With the latest contract, the company has now secured offtake agreements for 19.8 gigawatts of projects.
What Milestone Has Adani Green Energy Achieved in Increasing Green Power Capacity?
Adani Green Energy Ltd.'s Milestones in Increasing Green Power Capacity:
- Secured buyers for the 8GW of green power projects won in a tender three years ago, including a 25-year contract with Solar Energy Corp. of India for the remaining 1.8GW of projects
- 8.4GW of operating renewable portfolio, plans to invest $22 billion to expand capacity to 45GW by 2030
- Secured offtake agreements for 19.8GW of projects
- Company is now the world's largest renewable energy developer, managing 19GW of operating assets and 20GW of projects under construction.
- Received multiple awards, including the World Green Economy Organisation “Global RE100 Leadership Award”
- Named “Renewable Energy Company of the Year” at the Infrastructure Investor India Awards 2020