Adani Green Energy Ltd (AGEL) on Friday said its wholly-owned subsidiary Adani Renewable Energy Holding Eight Ltd (AREHEightL) has been awarded a 600-megawatt wind-solar hybrid power project by Solar Energy Corporation of India.
"AREHEightL participated in a tender issued by SECI for setting up 1,200-MW ISTS-connected wind-solar hybrid power project.
"It has won the letter of award (LOA) for 600-MW wind-solar hybrid project. On December 31, 2020, AREHEightL received the LOA," AGEL said in a statement.
The tariff for this project capacity has been fixed at Rs 2.41 per kilowatt-hour (kWh) for 25 years. The project is expected to be commissioned in a duration of 18 months from the date of signing the PPA (power purchase agreement), the company said.
With the latest win, AGEL's total capacity stands at 14,795 megawatts (MW) of renewable energy. Of this, 2,950 MW of renewable energy projects are operational and 11,845 MW projects are under implementation, it said.
AGEL Managing Director and CEO Vneet S Jaain said, "The LoA of the 600-MW wind-solar hybrid power project is in line with our ambition to achieve renewable power capacity of 25 GW by 2025."
It is also a step closer towards becoming the world's largest renewable power company by 2030 and contributes to India's decarbonisation targets.
AGEL has a renewable portfolio of over 14 gigawatts 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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)