06-Dec-2023
2 mins read
AGEL’s Remarkable Rise in the Global Renewable Energy Arena
AGEL has been recognised as the world’s second-largest solar photovoltaic developer as per the Mercom Capital Group’s latest annual report. With a total solar capacity of 18.1 GW across operational, under-construction, and awarded projects, the company has secured its place among the global solar energy leaders.
Global Solar Photovoltaic Developer Landscape
The top ten global large-scale solar PV developers, as highlighted in the report, showcase a combined capacity of 145 GW across operational, under-construction, and awarded projects. Among these, 49.5 GW were operational, 29.1 GW were under construction, and 66.2 GW were in the pipeline through awarded PPAs.
Gautam Adani’s Vision for Sustainable Energy
Gautam Adani, Chairman of the Adani Group, emphasises the commitment to large-scale renewables, an indigenous integrated manufacturing ecosystem, and green hydrogen solutions. The ambitious plan involves a US$ 75 billion investment by 2030 in energy transition initiatives. This investment aims to achieve a 45 GW renewable energy capacity by 2030, reinforcing AGEL’s pivotal role in India’s decarbonisation efforts.
World’s Largest Wind-Solar Hybrid Power Developer
Adani Green Energy Limited (AGEL) achieved another major milestone in the renewable energy sector on Dec 5, 2022, by commissioning its third wind-solar hybrid power plant in Rajasthan. This latest addition, a 450 MW plant in Jaisalmer, with a 25-year Power Purchase Agreement (PPA) at Rs 2.67/kWh with SECI, adds to AGEL’s operational capacity, pushing it to 7.17 GW, making it the world’s largest wind-solar hybrid power farm developer.
Unveiling the Hybrid Power Expansion
AGEL’s journey in establishing hybrid power plants has been impressive. Starting with a 390 MW plant in May 2022, followed by a colossal 600 MW co-located hybrid power plant in September 2022, both situated in Jaisalmer, Rajasthan, the company has showcased its prowess in implementing cutting-edge technology. The newly commissioned 450 MW hybrid power plant, housing 420 MW solar and 105 MW wind plants, cement AGEL’s position with the largest operational hybrid power generation capacity of 1,440 MW.
In summary, Adani Green Energy Limited’s remarkable strides in the renewable energy sector, particularly in wind-solar hybrid power plants and solar PV development, underscore its growing prominence in the global energy landscape. With visionary leadership and strategic initiatives, AGEL continues to spearhead India’s transition towards sustainable, decarbonised energy solutions.
Also read: Adani Green Energy (AGEL) Secures $1.36 Bn Funding, Total Pool Now $3 Bn