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Adani Renewable Energy Holding Eight Ltd, a wholly-owned subsidiary of Adani Green Energy Limited received LOA for 600 MW Wind-Solar Hybrid project from Solar Energy Corporation of India. 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 this project, total renewable energy project capacity of Adani Green now stands at 14,795 MW, of which 2,950 MW projects are operational and 11,845 MW projects are under implementation.
The company in their press release mentioned that the project strengthens the company’s pioneer position for RE Hybrid projects in India. The development is in line with its vision to become the world’s largest renewables company by 2030. The stock prices of Adani Green have advanced nearly 480% in the last one year.