Adani Green has secured the bid to develop solar photovoltaic (PV) power projects of 8 GW alongside setting a photovoltaic cell and module manufacturing capacity of 2 GW. This win, the largest in the world during a single bid, will entail a complete investment of roughly $6 billion (₹452 billion).

 

Adani Green Energy and Azure Power won the primary of its kind manufacturing-linked solar tender floated by the Solar Energy Corporation of India’s (SECI) for 7 GW of solar capacity. Adani and Azure both won the bid to develop 2,000 MW of projects with 500 MW of producing capacity. The winning tariff quoted by both the businesses was ₹2.92 (~$0.04)/kWh. The ceiling tariff for this tender was ₹2.93 ($0.041)/kWh. For both the companies , the ratio after the Greenshoe option remained an equivalent at 1:4.

 

The tender also had a greenshoe option, where the companies could choose for an additional capacity to both develop and manufacture. Adani, under the greenshoe option, has offered a further capacity of 1,500 MW photovoltaic cell and module manufacturing and 6 GW of solar project development. With this, Adani’s total allocation comes to 2,000 MW of solar cell and module manufacturing and 8 GW of project capacity.

 

Commenting on this historic win, GautamAdani, Chairman of the Adani Group stated, “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 decarbonisation must be simultaneous objectives.

 

Adani is slated to line up the solar manufacturing capacity in Gujarat while the solar projects might be located anywhere within the country. The photovoltaic cell and module manufacturing capacity of 2 GW are going to be established by 2022, consistent with the company’s BSE filing.

 

The 8 GW of solar projects are anticipated to be commissioned in 60 months.Generally, this project is likely to create 400,000 direct and indirect jobs and displace 900 million tons of carbon dioxide over its lifetime.