Adani Green Energy Limited (AGEL) has won the first manufacturing-linked solar award from the Solar Energy Corporation of India to build the largest solar development bid ever awarded for the construction of projects totaling 8-gigawatts (GW) of photovoltaic (PV) capacity in India, the company announced in a statement on Tuesday.
As a part of the award, which is the first and largest of its type ever in the world, AGEL will develop solar projects totaling 8 GW along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity.
The award will also create 400,000 direct and indirect jobs, displacing 900 million tonnes of carbon dioxide over its lifetime.
With this win, AGEL will have 15 GW of capacity under operation, construction, or under contract, bringing the company closer to its target to be the world’s largest renewables company by 2025 achieving an installed generation capacity of 25 GW of renewable power.
The move is also significant in battling climate change, it added.
“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,” Gautam Adani, chairman of the Adani Group was quoted as saying in the statement.
Based on the 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 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.
By Sibel Morrow