The project will entail a single investment of US $6 billion and will create 400,000 direct and indirect jobs
With this win, Adani Green Energy will now have 15 GW capacity under operation, construction or under contract
New Delhi: Adani Green Energy Limited has won the first-of-its-kind manufacturing linked solar agreement from SECI (Solar Energy Corporation of India), the company said in a regulatory filing to the stock exchanges on Tuesday. As part of the award, Adani Green Energy will build 8 GW of solar projects and will 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 US $6 billion and will create 400,000 direct and indirect jobs,” Adani Green Energy said in an official statement.
Adani Green Energy solar project will displace 900 MT of CO2 in its lifetime
It will also displace 900 million tonnes of carbon dioxide over its lifetime, the company said. “With this win, Adani Green Energy will now have 15 GW capacity under operation, construction or under contract, thereby accelerating its journey towards becoming the world’s largest renewables company by 2025. This award will also take Adani Green Energy Limited 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 a total investment of $15 billion in the renewable energy space over the next five years,” the statement said.
Both job creation & decarbonization must be simultaneous: Adani
Commenting on the win, Gautam Adani, Chairman of Adani Group said: “The Hon’ble Prime Minister Mr Narendra Modi made a commitment at the 2015 United Nations Climate Change Conference in Paris that India would lead the Climate Change revolution and will in fact fulfill majority of its COP21 commitments nine years ahead of the 2030 deadline. We are indeed honoured to be selected by the Solar Energy Corporation of India for this landmark award. In today’s world, climate adaptation cannot be considered independent of economic development priorities and both job creation as well as decarbonization must be simultaneous objectives. The fact that renewable power will transition into becoming the world’s cleanest and most economical fuel is a foregone conclusion and Adani Group intends to play a leading role in this journey.”
8 GW solar projects to be implemented by Adani Green Energy over 5 years
Based on the award agreement, the 8 GW of solar development projects will be implemented over the next five years. The first 2 GW of generation capacity will come online by 2022 and the subsequent 6 GW capacity will be added in 2 GW annual increments through 2025. The projects will include a variety of locations, including a 2 GW single-site generation project that is tied for the rank of the largest single-site project announced globally. The solar cell and module manufacturing capacity of 2 GW will be established by 2022.
The @SECI_Ltd award is a validation of India's climate change promise to the world and its resolve to become Atma Nirbhar. Adani Green Energy is privileged to enable this great transformation. https://t.co/udUIStoz5Q— Gautam Adani (@gautam_adani) June 9, 2020