This $6 Billion Solar Project To Indian Firm Will Power 10.5 Million Homes
The Solar Energy Corporation of India (SECI) awarded Adani Green Energy Ltd (AGEL) the world’s largest solar contract worth $6 billion or Rs 45,000 crore.
On this occasion, the Chairman of the group Mr. Gautam Adani said “We’re grateful that we’ve been given this opportunity to help redefine our nation’s renewable energy landscape“.
Here are the details.
World’s Largest Solar Energy Contract Bagged By Adani
The largest solar energy contract will see the development of 8-gigawatt solar energy power plants. With this addition, the Adani group will produce a total of 15 gigawatts worth of solar energy, which is enough to power 10.5 million homes.
Adani Green Energy aims to achieve this energy capacity by 2025 and become the world’s largest renewable energy company. Adani group will also commit $15 billion dollars by 2025 to reach a solar energy capacity of 25 gigawatts.
According to a report by the Economic Times, India added 7.9 gigawatts of solar-generated electricity to its grid. The report also states that several tenders are pending auctions which will further add a solar energy capacity of 31.5 gigawatts.
The $6 billion worth of investment is the single largest investment since the launch of India’s Atmanirbhar Abhiyaan. It aims to promote local manufacturing sectors across the nation.
The project will create around 400,000 direct and indirect jobs, according to Mr. Adani.
On the aspect of helping the environment, the project will save 900 million tons of Carbon Dioxide emissions upon completion. This number is staggering because the carbon footprint of the National Capital Region of Delhi is 69 million tons.
Other Winners And The Way Forward
Aside from Adani Green Energy Ltd, Azure Power also received approval to build a 1GW capacity solar manufacturing plant and a 4GW linked solar power plant.
This increase in solar energy capacity will prove to be a boon for electric vehicles in India. Currently, India lags behind the rest of the countries like America, the UK, and China in terms of EV adoption.
Meanwhile, AGEL aims to install a 2-gigawatt solar energy manufacturing plant that will be ready by 2022. The remaining 6-gigawatts of energy manufacturing units will be installed by 2025 with a 2-gigawatt increase annually.
In his closing remarks, Mr. Adani said, “I firmly believe that over the next two decades renewable power will transition into becoming the world’s cleanest and most economic fuel and be one of the principal catalysts for millions of jobs.”
