India’s Adani Green Energy Ltd. has achieved a groundbreaking milestone with the commissioning of a 600-MW wind-solar complex in Rajasthan, marking the largest of its kind globally. The hybrid park, located in Jaisalmer, integrates a photovoltaic (PV) farm with bifacial modules, single-axis tracking systems, and co-located wind turbines.
Adani Green Energy will operate this colossal complex through a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), selling its output at INR 2.69 (USD 0.033/EUR 0.034) per kWh. The company secured this capacity through an SECI tender for interstate transmission system (ISTS) connected projects in 2019.
This achievement follows Adani Green’s May announcement of India’s first wind-solar farm, a 390-MW hybrid energy park in Jaisalmer. With the latest complex online, Adani Green’s renewable portfolio stands at an impressive 6.7 GW. The company aims to reach 45 GW of renewable power production capacity by 2030.
Gautam Adani, the chief of Adani Enterprise, emphasized the critical role of the group’s renewables businesses in India’s net-zero journey during the group’s AGM on July 18. Adani highlighted that AGEL is already responsible for the world’s largest hybrid solar-wind project of 2.14 GW in Rajasthan.
The company’s renewables portfolio has grown by 49% to 8 GW, making it the largest in India. Adani expressed a commitment to producing the lowest-cost green electrons at scale, reaffirming the ambitious target of 45 GW of renewable energy capacity by 2030.
Adani also unveiled plans for a monumental hybrid renewable project in Khavda, covering more than 72,000 acres and aiming to produce 20 GW once operational. Adani Green is focused on expediting the execution of this project, setting it apart from any previous endeavors.
Adani Green Energy, the Gautam Adani-led Adani Group’s renewable energy arm, is looking to raise Rs 12,300 crore ($1.5 billion) through a qualified institutional placement (QIP). This strategic move will facilitate the expansion of green energy operations and contribute to achieving the company’s ambitious renewable energy goals.
In March, Adani Green Energy had announced that its operating renewable portfolio reached 8,024 MW after inaugurating its fourth wind-solar hybrid power plant in Jaisalmer. Adani Transmission, the group’s flagship, also revealed plans to raise Rs 8,500 crore through a QIP to accelerate its transmission business.
Adani Green Energy’s remarkable progress and strategic initiatives underscore its leading position in India’s renewable energy segment, reinforcing confidence among investors and addressing concerns over servicing debt. The company’s unwavering commitment to renewable energy aligns with India’s broader sustainability goals.