Adani Green Energy Wins World’s Largest Solar Bid: Key Points
The share price of Adani Green Energy zoomed to a record high after the firm won the world's largest solar bid.
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Adani Green Energy (AGEL) has won the first of its kind manufacturing-linked solar agreement from the Solar Energy Corporation of India (SECI).
On Tuesday, the share price of Adani Green Energy zoomed to a record high after the firm won the world's largest solar bid.
The company bagged the world's biggest solar tender that will construct a photovoltaic (PV) power plant of 8,000 MW and setting up a residential sun oriented board fabricating limit of 2,000 MW with an all-out venture of generally $6 billion.
The SECI board has permitted the tenders for the domestic manufacturing connected deal, which shut in November a year ago, at a tax of Rs 2.92 per unit found through a converse sale.
Here are some key highlights:
- The biggest award of its category involves a solitary venture of Rs 45,000 crore ($ 6 billion) and will make 400,000 immediate and backhanded employments.
- This project will likewise dislodge 900 million tons of carbon dioxide over its lifetime
- The Indian domiciliary manufacturing connected ventures to have a higher tax roof of Rs 2.93 per unit against normal Rs 2.60 for general activities.
- Adani Green had started the lead in SECI's assembling connected solar tender a year ago by offering to set up a sun based assembling limit of 1,000 MW and a sunlight based force task of 4,000 MW.
- The Adani Green Group will create 8 GW of thermal undertakings and build up 2 GW of extra thermal cell and module producing limit.
- The reverse sell-off begins from a more elevated level, giving advertisers budgetary headroom as the general winning rate for solar power force drifts around Rs 2.50 per unit.
- The SECI likewise offers PPAs (power purchase agreements) for multiple times the offered size if there should arise an occurrence of assembling connected ventures.
- The initial 2 GW will come online by 2022 and the ensuing 6 GW limit will be included 2 GW yearly additions through 2025.
- Azure Power had picked to offer for a pack fabricating limit of 500 MW.