Adani Green Energy has secured the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As part of the award, AGEL will develop 8 GW of solar projects.
Adani Solar will also set up 2 GW of additional solar cell and manufacturing capacity for the modules.
This award, the world’s largest of its kind ever, will entail a single investment of $6 billion and will generate 400.000 direct and indirect jobs. It would also displace over its lifespan 900 million tonnes of carbon dioxide.
It is also another significant move in India continuing to lead the world in the fight against climate change and furthering the promise made to the world by India’s Hon’ble Prime Minister at the 2015 COP 21 Paris Summit.
“We are honoured to be selected by SECI for this landmark solar award. 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. India made a commitment at the 2015 United Nations Climate Change Conference in Paris that it would lead the Climate Change revolution and today is the leader among the just eight nations on track to meet their COP21 commitments.
“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. This award is yet another step in our nation’s climate change promise to the world as well as enabling our nation’s Atma Nirbhar Bharat Abhiyan (Self Reliant India Program). It is another step towards fulfilling our Group’s Nation Building vision.”Gautam Adani, chairman of the Adani Group.
The 8 GW of solar power projects will be implemented over the next five years , based on the award agreement. The first 2 GW of generation capacity will be online by 2022 and the subsequent 6 GW capacity will be added through 2025 in 2 GW annual increments.
The projects will include a variety of locations, including a single-site 2 GW project tied to the rank of the world’s largest single-site project. The 2 GW solar cell and module manufacturing capacity will be built by 2022 and will further consolidate the Group’s role as India’s largest solar manufacturing facility along with the current 1.3 GW of production.