With this order, company said it would now have 15 GW capacity under operation, construction or under contract.
Shares of Adani Green Energy (AGEL) were locked in 5 percent upper circuit at Rs 312.60 on June 9 on received a big solar project from SECI.
"....has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI). As a part of the award, AGEL will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity," the Adani Group company said in its BSE filing.
This award, the largest of its type, will entail a single investment of Rs 45,000 crore ($6 billion), it added.
Adani Green feels the project will also displace 900 million tonnes of carbon dioxide over its lifetime.
With this order, the company said it would now have 15 GW capacity under operation, construction or under contract.
"This award will take the Company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of Rs 1,12,000 crores ($15 billion) in the renewable energy space over the next 5 years," it added.
This is the single biggest investment announced since the launch of the Prime Minister, Narendra Modi's Atma Nirbhar Bharat Abhiyan (Self Reliant India Program).
"In today's world, climate adaptation cannot be considered independent of economic development priorities and both, job creation, as well as decarbonization, must be simultaneous objectives. India made a commitment at the 2015 United Nations Climate Change Conference in Paris that it would lead the Climate Change revolution and today is the leader among the just eight nations on track to meet their COP21 commitments," Gautam Adani, Chairman of the Adani Group said.
Based on the award agreement the 8 GW of solar development projects will be implemented over the next five years, said the company, adding the first 2 GW of generation capacity will come online by 2022 and the subsequent 6 GW capacity will be added in 2 GW annual increments through 2025.
