Adani’s Renewable Energy Arm Gets LoA for 600 MW Hybrid Power Project

Recently, AREHEightL had participated in the Solar Energy Corporation of India’s (SECI’s) tender for setting up 1,200 MW ISTS-connected solar-wind hybrid power project and won 600 MW of capacity at a record lowest tariff of Rs 2.41/kWh for any renewable energy hybrid project.

January 04, 2021. By Manu Tayal

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Indian conglomerate Adani Group’s renewable energy arm Adani Green Energy Ltd (AGEL) said that its wholly-owned subsidiary Adani Renewable Energy Holding Eight Ltd (AREHEightL) has received the Letter of Award (LoA) for setting up of 600 MW solar-wind hybrid power project.

Recently, AREHEightL had participated in the Solar Energy Corporation of India’s (SECI’s) tender for setting up 1,200 MW ISTS-connected solar-wind hybrid power project and won 600 MW of capacity at a record lowest tariff of Rs 2.41/kWh for any renewable energy hybrid project.

Further, the company had signed a 25 years power purchase agreement (PPA) with SECI, and the project is expected to be commissioned in 18 months from the effective date of PPA.

Commenting on receiving the LoA, Vneet S. Jaain, MD & CEO of Adani Green Energy Ltd said that, “Adani Green is committed to ramp up creation of a sustainable ecosystem for transitioning towards a greener future. The LOA of 600 MW Wind-Solar Hybrid Power Project is in line with our ambition to achieving renewable power capacity of 25 GW by 2025 and becoming the world’s largest renewable power company by 2030 and contribute significantly towards India’s decarbonization targets. It also strengthens AGEL’s leadership position in Wind, Solar and Hybrid power generation in India.”

With this project, the total renewable energy project capacity of AGEL now stood at 14,795 MW, of which 2,950 MW projects are currently operational and 11,845 MW projects are under implementation.

The company said in a statement that this wind-solar hybrid project, strengthens it’s position for RE hybrid projects in the country. Hybrid projects enables optimal utilisation of grid infrastructure, lead to a more sustainable integration of renewable energy and works as a key enabler for growth of renewable power in India.

Recently, Adani Solar Energy Kutchh Two Pvt Ltd, an arm of Adani Green Energy Ltd (AGEL) commissioned 100 MWac solar power project at Khirsara in Gujarat ahead of its scheduled commercial operation date (COD).

Buoyed by the development, scrips of AGEL were trading at Rs 1079.55 apiece, up 1.26 per cent, from the previous close on the exchange at 10:42 hours.

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