Adani Green Energy Limited (AGEL) has executed power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to deliver solar power of capacity 1,799 MW. AGEL has concluded the agreement to acquire the entire power output of the 8,000 MW manufacturing-linked solar tender, by signing the balance PPA. SECI granted this tender to AGEL in June 2020.
AGEL has made progress in fulfilling its obligations under the SECI manufacturing-linked solar PV tender, which includes establishing facilities to produce 2 GW of PV cells and modules. Through its affiliated company Mundra Solar Energy Limited (MSEL), AGEL has already commissioned a 2 GW per annum solar PV cell and module manufacturing facility. The facility is situated at Mundra, Gujarat. Through its fully owned subsidiary Adani Renewable Energy Holding Four Limited, AGEL owns 26 per cent stake of MSEL.
With this development, AGEL has secured PPAs for 19.8 GW, and the remaining capacity of 20.6 GW in its committed portfolio operates as merchant capacity.
Recently, in December 2023, AGEL revealed additional funding of $1.36 billion to enhance its construction financing framework to $3 billion. In October 2023, Adani Solar Energy Jaisalmer Two Private Limited announced the commissioning of its 150 MW solar power project in Bikaner, Rajasthan.
