ASECOL Unveils 50 MW Solar Plant in Chitrakoot

• ASECOL launches a 50 MW solar power plant in Chitrakoot, elevating Adani Green’s renewable capacity to 3,520 MW and advancing toward a greener future!

ASECOL, a subsidiary of Adani Green Energy Limited (AGEL), has inaugurated a 50 MW solar power plant in Chitrakoot, Uttar Pradesh. The facility has a 25-year Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL), with a tariff set at Rs. 3.07 per kWh.

This development boosts AGEL's total renewable energy capacity to 3,520 MW and represents a significant step towards the company's ambitious goal of achieving 25 GW of renewable energy capacity by 2025.

How does ASECOL's new plant impact AGEL's renewable energy capacity goals?

• Incremental Capacity Addition: The inauguration of the 50 MW solar power plant by ASECOL contributes directly to AGEL’s total renewable energy capacity, which now stands at 3,520 MW. This incremental capacity is crucial in reaching AGEL's ambitious target of 25 GW by 2025.
• Strategic Alignment with Goals: This new facility aligns with AGEL's strategic focus on expanding its solar energy portfolio, positioning the company to meet its long-term growth ambitions in the renewable sector.
• Enhanced Operational Scale: The addition of the Chitrakoot solar plant enhances AGEL’s operational scale, allowing for improved efficiencies and economies of scale in production and management, ultimately aiding their goal of rapid capacity expansion.
• Stable Revenue Stream: The 25-year Power Purchase Agreement (PPA) with UPPCL at a competitive tariff of Rs. 3.07 per kWh provides a stable revenue stream, essential for funding further expansions and investments in renewable energy projects.
• Positive Market Signal: ASECOL’s new plant demonstrates AGEL's commitment to renewable energy, further bolstering investor confidence and potentially attracting additional investment to support further capacity growth.
• Contribution to Energy Transition: The expansion of AGEL’s renewable portfolio supports India’s broader energy transition goals, contributing to the reduction of carbon emissions and reliance on fossil fuels.
• Job Creation and Local Impact: The establishment of the solar power plant creates jobs and promotes local economic development, enhancing AGEL's reputation as a socially responsible company that contributes positively to the communities in which it operates.
• Infrastructure Development: The new plant necessitates improvements in local infrastructure, such as roads and electrical grids, which can have broader economic benefits beyond the plant itself.
• Research and Development Opportunities: With the increase in capacity, there may be opportunities for AGEL to invest in research and development of advanced solar technologies and energy storage solutions, further improving efficiency and sustainability.
• Diversification of Energy Mix: The addition of solar power capacity diversifies AGEL’s energy mix, reducing risk and enhancing sustainability by mitigating dependence on any single source of energy generation.
• Alignment with National Goals: This expansion is in line with India's commitment to increase its renewable energy capacity to 175 GW by 2022 and 450 GW by 2030, showcasing AGEL’s role as a key player in meeting national energy targets.