Adani Green Arm Commissions 50 MW Wind Project

Ahmedabad headquartered Adani Green Energy Ltd (AGEL) said that it has commissioned another 50 MW wind energy project through its wholly-owned subsidiary Adani Green Energy (MP) Ltd on March 05, 2020.

The project has been commissioned under the 25 year Power Purchase Agreement (PPA) with state-owned Solar Energy Corporation of India (SECI) at a tariff of Rs 2.65/kWh.

With this project commissioning, the company has 2.55 GWac of operational renewable energy projects, AGEL said in a statement.

The Adani Group company has an aggregate portfolio of 5.99 GWac renewable energy capacity in India, out of which 3.44 GWac projects are under implementation, it added.

Last month, Adani Group entered into binding agreement to sell its half of the stake in solar energy assets to Total Gas & Power Business Services SAS (Total) for about USD 510 million.

As per the deal, Total will acquire 50 percent stake and other instruments in a Joint Venture Company (JVCo) having more than 2 GW (2,148 MWac) of operating solar projects owned by Adani Green Energy Ltd (AGEL).

Moreover, the remaining 50 percent stake in the JVCo will be held by AGEL. This solar portfolio is spread across eleven states on pan India.

However, the transaction is subject to customary approvals and definitive agreements.

The company said in a statement that the transaction underlines the two organisation’s commitment towards addressing India’s growing demand for power in a sustainable manner and help meet the country’s climate change goals.

Two months before, AGEL has also commissioned 75 MW wind energy project through its subsidiary Adani Renewable Energy.

The project has been commissioned under the 25 year PPA with Maharashtra Discom MSEDCL at a tariff of Rs 2.85/kWh.