Adani Green Energy hits upper circuit on LoA win to set-up 300 MW wind power project

Adani Renewable Energy Holding Fifteen Limited (AREHFL), a subsidiary of Adani Green Energy Limited (AGEL) had participated in the tender issued by Solar Energy Corporation of India (SECI) for setting up 1,200 MW ISTS-connected wind power project (Tranche-X) and received a letter of award (LoA) to set-up 300 MW wind power project under this tender. 

The fixed tariff for this project capacity is Rs 2.77/kWh for a period of 25 years. 

With this, AGEL’s total renewable capacity now stands at 15,165 MW, of which, 3,395 MW renewable plants are operational while 11,770 MW projects are under implementation. 

Besides, it has also signed a share purchase agreement for the acquisition of 100 per cent stake in an SPV holding 50 MW operating solar project of Toronto-headquartered SkyPower Global. The project, which is located in Telangana and commissioned in October 2017, has a long-term power purchase agreement (PPA) with Southern Power Distribution Company of Telangana. 

Adani Green Energy is a part of India-based Adani Group and has one of the largest global renewable portfolios with 15 GW of operating, under-construction and awarded projects catering to investment-grade counterparties.  

With this, the stock of AGEL has hit upper circuit of 5 per cent and made 52-week high of Rs 1,251.05 from its previous close of Rs 1,191.50 on BSE.