June 9, 2020 Read More →

Adani unit wins bid to build 8GW of solar capacity in India, including 2GW mega-project

PV Magazine:

Adani Green Energy has secured a Solar Energy Corporation of India (Seci) award to develop 8 GW of Indian solar project capacity that will include a 2 GW mega-site which will jointly hold the record for the world’s biggest solar park, according to a report on the Globe Newswire business news service this morning.

The Ahmedabad-based developer, part of commodities trading conglomerate Adani Group, landed the deal in return for committing to establish 2 GW of cell and module manufacturing capacity in India as part of Seci’s ambitious manufacturing-linked solar tender.

“This award, the largest of its type ever in the world, will entail a single investment of $6 billion (Rs45,350 crore) and will create 400,000 direct and indirect jobs,” said a company statement reported by Globe Newswire. “It will also displace 900 million tons of carbon dioxide over its lifetime.”

Adani was reported to have placed bids for 4 GW of solar capacity in the Seci tender held in November, in return agreeing to establish solar manufacturing facilities with an annual production capacity of 1 GW. The company appears to have exercised a ‘green shoe’ option permitted under the exercise to double both capacities.

New Delhi-based Azure Power was the other winning developer in the huge procurement exercise, securing up to 4 GW of solar capacity in return for 1 GW of cell and module production lines.

Adani said the first, 2 GW slice of solar generation capacity will come online by 2022 with the balance added in 2 GW annual installments up to 2025. The solar projects involved will include one 2 GW site, according to Globe Newswire. The 2 GW of manufacturing facilities will also be established by 2022.

[Uma Gupta]

More: Adani Green Energy wins world’s largest solar award

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