Adani Green Energy Wins World’s Largest Solar Award Worth $6 Billion
In an eventful start to the decade, Adani Green Energy, a subsidiary of the Adani Group Conglomerate, has won the “world’s largest solar tender” from the Union government worth $6 Billion (or Rs 45,000 crore). The project includes a plan to setup an 8-Gigawatt (Gw) photovoltaic power plant and a 2- Gw solar cell and module manufacturing capacity in five years.
The ambitious project is bound to supercharge the growth of India’s solar energy sector. It has also placed Adani Green as the largest renewable power generator in the country with 15 Gw of renewable capacity under various stages of development. So far, Adani Green has 2.5 Gw of operational and 3.5 Gw of under-construction solar and wind power capacity in the country, along with 1.3 Gw of solar cells and modules manufacturing capacity.
In November 2019, the Centre had awarded a tender for power-project linked solar manufacturing to Adani Green. SECI had invited bids for 2 Gw of Solar manufacturing and 6 Gw of linked solar power plants. Adani Green submitted a bid for 1-Gw solar cell manufacturing and 4-Gw solar power plants, while Azure power submitted a bid for 0.5 Gw of manufacturing and 2-Gw power plants. After the introduction of a greenshoe option, Adani offered an additional 1.5 Gw capacity of solar cell and module manufacturing and 6 Gw solar power generation, and Azure quoted an additional capacity of 0.5 Gw for manufacturing and 2 Gw for 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 $6 billion and will create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime.
“This award will take the company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of Rs 1,12,000 crore (USD 15 billion) in the renewable energy space over the next 5 years,” the company said in a public statement.
The projects will be built across a variety of locations, including a 2-Gigawatt Single-Site Array, tying Abu Dhabi’s Al Dhafra as the world’s largest announced solar project.
“This award is yet another step in our nation’s climate change promise to the world as well as enabling our nation’s Atmanirbhar Bharat Abhiyan (self-reliant India programme). It is another step towards fulfilling our group’s nation-building vision,” said Billionaire Gautam Adani, Founder of Adani Group.