AGEL receives LOA for 600 MW Wind-Solar Hybrid Power Project

Adani Renewable Energy Holding Eight (AREHEightL), a wholly-owned subsidiary of Adani Green Energy (AGEL) received LOA for 600 MW WindSolar Hybrid project.

AREHEightL participated in a tender issued by the Solar Energy Corporation of India (SECI) for setting up 1,200 MW ISTS-connected Wind-Solar Hybrid Power Project.

The fixed tariff for this project capacity is Rs. 2.41/ kWh for a period of 25 years. The project is expected to be commissioned in 18 months from the effective date of PPA.

With this project, total renewable energy project capacity of AGEL now stands at 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW projects are under implementation.

Vneet S. Jaain, MD & CEO, Adani Green Energy said, the LOA of 600 MW Wind-Solar Hybrid Power Project strengthens AGEL's leadership position in Wind, Solar and Hybrid power generation in India.

The announcement was made after market hours on Friday, 1 January 2021. Shares of AGEL rose 1.29% to settle at Rs 1,066.15 on Friday.

Adani Green Energy (AGEL), a part of Adani Group, has one of the largest global renewable portfolios over 14 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

Powered by Capital Market - Live News