Adani Green Energy Commissions 100 MW Solar Plant in Gujarat

Adani Solar Energy Kutchh Two, a subsidiary of Adani Green Energy AGEL has commissioned a 100 MW solar power project at Khirsara, Gujarat.

Adani Solar Energy Kutchh Two Private Limited, a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has commissioned a 100 MW ac solar power project at Khirsara, Gujarat, ahead of its scheduled Commercial Operation Date (COD) according to its 25-year-long Power Purchase Agreement (PPA) with the Gujarat Urja Vikas Nigam India (GUVNL). 

The new plant will be connected to the firms’ new state-of-the-art Energy Network Operation Centre (ENOC) that continuously monitors and analyses the performance of 80+ solar and wind plants across diverse locations in India. The PPA for the project is priced at Rs 2.44/kWh, as of December 29, 2020. 

Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said, “Adani Green is committed to creating a sustainable future through rapid project execution capability in line with the global best practices in the renewable energy sector. The commencement of 100 MWac solar power project in Khirsara, Kutchh, Gujarat in line with the Adani Group’s legacy of scale and speed and is another significant step towards achieving our vision of 25 GW renewable energy by 2025.”

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With the commissioning of this project, AGEL’s total operational portfolio has grown to 2,950 MWac demonstrating a CAGR of 55 percent since March 2016. The firm has a total renewable capacity of 14,195 MWac including 11,245 MWac awarded and under implementation projects; and targets commissioning of renewable capacity of 25 GW by 2025.

Last month, a report by IEEFA had identified the opportunity for the Adani Group to lead India’s energy strategy by further aligning itself with the government’s vision for energy independence and fast-growing reliance on renewables.

“The soaring value of Adani Green Energy is a clear indication of where the market, and this group, are heading,” said Tim Buckley, director of Energy Finance Studies, South Asia, IEEFA. “Adani Green is now the largest listed energy company in India and one of the world’s biggest solar developers. Adani’s new strategic collaboration with Italy’s Snam to explore opportunities in green hydrogen is an exciting new development that suggests the group is scaling up its renewable ambitions even further.”