New Delhi, India -- Adani Green Energy Ltd (AGEL) has bagged the world's largest solar bid worth $6 billion. It 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 photovoltaic (PV) projects along with establishing 2 GW of additional solar cell and module manufacturing capacity.
This award entails a single investment of Rs.45,000 crore ($6 billion) and will create 4,00,000 direct and indirect jobs. It will also displace 900 million tonne of carbon dioxide over its lifetime, the company said in an official statement.
Commenting on the win, Gautam Adani, Chairman of the Adani Group said, “We are honored 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. 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.”
The management said this award is a step closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 requiring an investment of Rs.112,000 crore ($15 billion) in the renewable energy space over the next 5 years.
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