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Adani Green won world's largest solar project worth USD 6 billion

CIO Insider Team | Tuesday, 9 June, 2020
CIO Insider Team

Adani Green Energy Ltd has secured a manufacturing-linked solar contract from the Solar Energy Corporation of India (SECI) to develop 8 GW of projects. The deal is valued at ₹45,000 crore, or $6 billion, according to a stock exchange filing.
As a clause of the contract, Adani Solar will establish 2 GW of additional solar cell and module manufacturing capacity.

With this triumph, Adani Green will have 15 GW capacity under operation, construction or under

contract. The organization aims to achieve an
installed generation capacity of 25 GW of renewable power by 2025 at an investment of ₹1.12 trillion, or $15 billion, in the renewable energy space in the upcoming five years.

“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 decarbonisation must be simultaneous objectives," said Gautam Adani, chairman of the Adani Group.

"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," Adani added.

The 8 GW of solar projects will be implemented over the next five years span. The first 2 GW of generation capacity is estimated & scheduled to come online by 2022 and the subsequent 6 GW capacity will be added in 2 GW annual increments until 2025. 2GW each year.
The projects will spread across a variety of locations, including a 2 GW single-site generation project. The solar cell and module manufacturing capacity of 2 GW will be established by 2022. This, mounted with the existing 1.3 GW of capacity, will baptize the group as India’s largest solar manufacturing facility.

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