Adani Green Energy Limited has landed a deal from Solar Energy Corporation of India (SECI) to build 8 GW of photovoltaic solar power plant and a manufacturing unit for solar panels at a combined investment of Rs 40,000 crores. The investment announced is said to be the largest on the heels of the launch of the Atma Nirbhar Bharat Abhiyan (Self Reliant India program) by the Prime Minister. It is slated to create 400,000 direct and indirect employment opportunities, including skilled and non-skilled labour. The project if executed as planned is expected to displace 900 million tonnes of carbon dioxide from the environment.
Implementation of the project has been spread out incrementally over the next five years. While the first 2 GW of generation capacity will be operational by 2022, the remaining 6 GW will be added in yearly increments of 2 GW through 2025.
The project will be executed at multiple locations, one of which is a 2 GW single-site generation project that shares the top position with the largest single-site project announced globally.
The deal is expected to catapult AGEL’s capacity under operation, construction or under contract to 15 GW. Owing to this project, the firm aims at becoming the world’s largest renewables company by 2025. The company envisages this award to help it achieve an installed generation capacity of 25 GW of renewable power by 2025. It will translate into an expected investment of Rs. 112,000 crores in the renewable energy space over the next five years.
Gautam Adani, Chairman of the Adani Group called it a significant step for India to continue its fight against climate change and towards the fulfillment of India’s commitment to the world at the COP 21 summit in Paris in 2015. Sharing his thoughts on the win, the Chairman said, “We are honored to be selected by SECI for this landmark solar award. In today’s world, climate adaptation cannot be considered independent of economic development priorities and both, job creation as well as de-carbonization must be simultaneous objectives. India made a commitment at the 2015 United Nations Climate Change Conference in Paris that it would lead the Climate Change revolution and today is the leader among the just eight nations on track to meet their COP21 commitments.”