World’s largest solar award! Rs 45k cr investment and 4 lakh jobs! Adani Green Energy bags first-of-its-kind solar agreement
In a major development, Adani Green Energy Limited has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI).
In a major development, Adani Green Energy Limited has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As a part of the award, AGEL will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity. This award, the largest of its type, ever, in the world, will entail a single investment of Rs. 45,000 crores (US $6 billion) and will create 400,000 direct and indirect jobs. It will also displace 900 million tonnes of carbon dioxide over its lifetime.
"With this win, AGEL will now have 15 GW capacity under operation, construction or under contract thereby accelerating its journey towards becoming the world’s largest renewables company by 2025. This award will take the Company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of Rs. 112,000 crores ($15 billion) in the renewable energy space over the next 5 years," Adani Green Energy said in a statement.
This is the single biggest investment announced since the launch of the PM Narendra Modi’s Atma Nirbhar Bharat Abhiyan (Self Reliant India Program). It is also another significant step in India continuing to lead the world in battling climate change and furthering the commitment the PM Modi made to the world at the COP 21 summit in Paris in 2015.
Commenting on the win, Gautam Adani, Chairman of the Adani Group said, “We are honoured 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 decarbonization 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."
Adani adds, "The fact that renewable power will transition into becoming the world’s cleanest and most economical fuel is a foregone conclusion and the Adani Group intends to play a leading role in this journey. This award is yet another step in our nation’s climate change promise to the world as well as enabling our nation’s Atma Nirbhar Bharat Abhiyan. It is another step towards fulfilling our Group’s Nation Building vision.”
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