Surat: AGEN becomes India’s largest green energy company. Loktej Surat, Business News
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Adani Green Energy Limited (AGEL) has become India’s largest renewable energy portfolio company under the Adani portfolio. Recently AGEN has achieved installed capacity of 8.4 gigawatt (GW). The company also operates India’s largest solar capacity (5GW). Not only this, it is the leader in the wind-solar hybrid category with the world’s largest operating hybrid capacity of 2,140 MW.
Adani Green Energy Limited (AGEL), which has the largest solar portfolio in the country, has crossed the 5GW mark in its solar capacity operating portfolio. This ambitious target has been achieved with the commissioning of 150 MW solar plant in Bikaner, Rajasthan. AGEL’s total renewable operating capacity across solar, wind and hybrid has increased to 8,404 MW.
AGEN’s contribution to renewable energy expansion and sustainable power generation in India reflects its commitment towards green energy. With this achievement the company is not only strengthening its position as a key player in achieving the country’s clean energy goals but also in the renewable energy sector.
“AGEL’s management guidance envisages operating between an estimated 2.8 GW to 3 GW in the current financial year (FY24),” a company spokesperson said. In which there will be an investment of Rs 14,000 crore. AGEN earlier this year announced an ambitious target of achieving 45 GW of renewable energy capacity by 2030.
According to the company spokesperson, about 97 per cent of AGEN’s capacity is under long-term fixed tariff power purchase agreements (PPAs) with a tenure of 25 years. AGEL’s next projects are planned to be set up in the states of Rajasthan, Gujarat, Andhra Pradesh and Karnataka.
Adani emerged as the leading top-utility scale solar project developer in the first half (1H) of 2023, according to Mercom’s India Solar Market Leaderboard 1H 2023. According to Mercom report, Adani’s market share is 21.3 percent, which is more than the combined market share of the other 4 leaders on the leaderboard.
AGEN’s major customers include Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC) and various state discoms.
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