AGEL (Adani) wins a 8 GW solar tender in India

By Luglio 31, 2020 No Comments

Adani Green Energy Limited (AGEL) has won the first manufacturing linked agreement from the Solar Energy Corporation of India (SECI), under which the company will develop 8 GW solar capacity and will commit to establish 2 GW of additional solar cell and module manufacturing capacity, requiring a total investment of INR450bn (US$6bn). With this agreement, AGEL will have 15 GW of projects under operation, construction or contract. AGEL plan to invest INR1,120bn (US$15bn) over the 2020-2025 period to achieve an installed capacity of 25 GW by 2025.
In February 2020, Total and AGEL agreed to create a 50-50 joint venture, which will take over AGEL’ solar projects in operation, corresponding to a total capacity of over 2 GW across 11 Indian states; all the solar projects benefit from 25-year power purchase agreements (PPAs) with national and regional electricity distributors. Subject to regulatory approval, the transaction is valued US$500m.

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