Adani Green Energy Ltd, a renewable energy company of the Adani Group, has declared that it has obtained clearance from the central government for the construction of 2 gigawatts ( GW) of solar cells and modules and 8 GW of solar power plants over a period of five years. The project was won by Adani Green in November last year, when the Center awarded a tender for the production of energy-related solar projects.
Adani Green said in a public statement released on Tuesday that this is the largest solar tender in the world. With this win, the company is now also the largest renewable player in the country with 15 GW of renewable capacity at various stages of development. The next two are Renew Power with 8.5 GW and Azure Power with 6.5 GW.
Solar Energy Corporation of India (SECI) has invited tenders for 2 GW of solar power generation and 6 GW of connected solar power plants. After facing delays and extensions for almost two years, tenders for solar production were received in November 2019. This has been oversubscribed by the industry. SECI is the nodal body responsible for the awarding of tenders for renewable energy projects under the Ministry of New and Renewable Energy.
Adani Green submitted a bid for 1 GW of output and 4 GW of power plants. Azure Power submitted for 0.5 GW of manufacturing and a 2 GW power plant. Sources said both Adani and Azure quoted a tariff of Rs 2.9 per unit. SECI officials did not respond to the development.
There was a greenshoe option for bidders to increase production and power generation capacity. Adani offered an additional capacity of 1,5 GW of solar cells and module production and 6 GW of solar power generation under the greenshoe option. Azure quoted an additional capacity of 0.5 GW of production and 2 GW of power generation.
“As a part of the award, AGEL will build 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 US $6 billion and will create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime,” Adani Green said in a public statement
“In today’s world, climate adaptation cannot be considered independent of economic development priorities and both job creation as well as decarbonization must be simultaneous objectives. The fact that renewable power will transition into becoming the world’s cleanest and most economical fuel is a foregone conclusion and the Adani Group intends to play a leading role in this journey,” Gautam Adani, Chairman, Adani Group.
In January, Gautam Adani revealed in a blog post on the LinkedIn social media website that the company would invest 70% of its vertical energy capital expenditure in renewable energy and energy efficient systems.
He had also said the group aims to become the world's largest solar power company by 2025 and the world’s largest renewable power company by 2030. “We feel confident that we will be able to lead one of the fastest global carbon offsets,” he had said.
