Business News | SECI Inks World's Largest Green Power Purchase Deal with Adani
Get latest articles and stories on Business at LatestLY. Solar Energy Corporation of India (SECI) has signed an agreement to purchase 4,667 MW of green power from Adani Group. This is the world's largest green power purchase agreement.
Mumbai (India), December 14 (ANI): Solar Energy Corporation of India (SECI) has signed an agreement to purchase 4,667 MW of green power from Adani Group. This is the world's largest green power purchase agreement.
Adani Green Energy Limited (AGEL), a part of the diversified Adani Group, has signed a Power Purchase Agreement (PPA) with the government-run SECI, the company said in a statement on Tuesday.
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"We are pleased to have signed the world's largest PPA with SECI," said Gautam Adani, Chairman of Adani Group.
"This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme," he said.
"Following the proceedings at COP 26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed $50-$70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," Adani added.
The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which set a record for being the world's largest solar development tender ever awarded.
So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)