Adani bags Rs45,000-crore solar project from SECI

New Delhi, June 9

Adani Green Energy on Tuesday said it has bagged the first-of-its-kind manufacturing-linked solar contract worth Rs 45,000 crore from SECI to develop 8 GW electricity generation capacity and 2 GW equipment manufacturing facility in the country.

This award will take the company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025, which in turn will see it committing an investment of Rs 1,12,000 crore ($15 billion) in the renewable energy space over the next five years, the company said.

“Adani Green Energy Ltd (AGEL) has won the first-of-its-kind manufacturing-linked solar agreement from the Solar Energy Corporation of India (SECI),” according to a company statement.

As a part of the award, AGEL said it will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity.

“This award, the largest of its type, ever, in the world, will entail a single investment of Rs 45,000 crore ($6 billion) and will create 4,00,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime,” the statement said.

With this win, Adani Green Energy (AGEL) will now have 15 GW capacity under operation, construction or under contract.

Gautam Adani, Chairman of the Adani Group, said, “This award is yet another step in our nation’s climate change promise to the world as well as enabling our nation’s AtmaNirbhar Bharat Abhiyan (self-reliant India program). It is another step towards fulfilling our group’s nation building vision.” — PTI