Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Adani Green Energy Secures Buyers for Entire 8 GW Power Project Portfolio

Credit: Unsplash/APPA

Ltd. has achieved a significant milestone in its ambitious plan to expand generation capacity, securing buyers for the complete 8 gigawatts of green power projects it secured in a over three years ago.

The green energy arm of Gautam Adani's diversified conglomerate inked a 25-year contract with Energy Corp. of (Seci) for the remaining 1.8 gigawatts, as revealed in a statement on Monday. Seci, a state-run entity, served as the intermediary in the auction process, connecting project developers with electricity buyers.

This development reflects a notable shift among state power retailers toward signing long-term offtake contracts, a trend emerging amid the post-pandemic economic recovery and increased electricity demand due to extreme weather conditions in the country. State utilities, which had previously steered clear of long-term agreements in anticipation of lower prices in project auctions, are now displaying a renewed interest in such contracts.

Seci had awarded the project to Adani in June 2020 through an auction that encompassed both solar power generation and equipment manufacturing. Rival firm Azure Power Global had secured bids for constructing 4 gigawatts of solar power plants.

Adani Green, with its existing portfolio of 8.4 gigawatts in operating renewables, aims to invest $22 billion to expand its capacity to an ambitious 45 gigawatts by 2030. With this latest contract, the company has now secured offtake agreements for a total of 19.8 gigawatts of projects, according to Monday's announcement.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use