Adani Green soars over 3 per cent on commissioning 150 MWac solar power project in Kutch

Adani Green Energy Limited’s (AGEL) step-down subsidiary Adani Solar Energy Kutch One Limited has commissioned 150 MWac solar power project three months prior to its scheduled commissioning date. The team has made it possible by overcoming various obstacles like the global COVID-19 pandemic and the unprecedented rain & flood in Kutch (Gujarat). 

The company’s management has informed that this is the third solar plant commissioned by AGEL in less than a month. This would further contribute to its long-term vision of achieving a renewable capacity of 25 GW by 2025. 

This plant has a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL’s total operational renewable capacity grows to 3,125 MW and has a total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects. 

Gujarat contributes to nearly 13 per cent of the renewable energy production in India. The state with a generation capacity of 30 GW presents tremendous opportunities for growth in the renewable energy sector. Capitalising on these opportunities, AGEL has commissioned 635 MW renewable energy projects in Gujarat, while projects of 4,730 MW are under implementation. 

At 3.09 pm on Wednesday, the company’s stock was trading at Rs 1,026, up by 2.9 per cent on BSE.