Adani Green Energy Signs World’s Largest Green PPA with SECI

Adani Group’s renewable energy arm Adani Green Energy Ltd (AGEL) has entered into the world’s largest green power purchase agreement (PPA) with state-owned Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power.

Commenting on the significant development, Gautam Adani, Chairman of Adani Group, said “we are pleased to have signed the world’s largest PPA with SECI.”

“This is yet another step in our journey to enable India’s dual objective to accelerate India’s renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme. Following the proceedings at COP 26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed US$50-$70 Bn of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world’s largest renewables player by 2030,” he added.
 
The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8 GW awarded to AGEL by SECI in June 2020, which set a record for being the world’s largest solar development tender ever awarded.

So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6 GW of the 8 GW awarded in 2020. AGEL is expected to close the balance 2 GW PPA in the next 2 to 3 months time frame.