Adani Green Energy Limited (AGEL) has been awarded a $6 billion contract by the Solar Energy Corporation of India (SECI) to build 8 GW of solar generating capacity and 2 GW of solar cell and module manufacturing capacity.
The award is the largest of its kind in the world, according to the company, and will accelerate its plan to become the world’s largest renewables company by 2025.
Under the deal, AGEL will build 8 GW of solar projects in India of the next five years. The first 2 GW of generation capacity will come online by 2022 and the subsequent 6 GW capacity will be added in 2 GW annual increments through 2025.
The projects will include a variety of locations, including a 2 GW single-site generation project that is tied for the rank of the largest single-site project announced globally.
The solar cell and module manufacturing capacity of 2 GW will be established by 2022 and along with the existing 1.3 GW of capacity will further consolidate AGEL’s position as India’s largest solar manufacturing facility.
The contract award brings AGEL’s project portfolio to 15 GW of capacity under operation, construction or under contract.