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<keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Ltd (AGEL), the worlds largest solar power developer and the renewable energy arm of the diversified <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> Group, has signed an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. This is the worlds largest ever <keyword id="12733047" type="General" weightage="20" keywordseo="green-power-purchase-agreement-" source="Orion">green power purchase agreement.</keyword> "We are pleased to have signed the world's largest PPA with SECI," said Gautam Adani, Chairman of the Adani Group. "This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme. Following the proceedings at COP26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed $50-$70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," he added. The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which set a record for being the world's largest solar development tender ever awarded. So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months. SEE ALSO <a href="https://www.businessinsider.in/retail/news/aditya-birla-fashion-will-now-sell-reebok-products-in-india-and-10-other-asian-countries/articleshow/88272443.cms" data-type="tilCustomLink">Aditya Birla Fashion will now sell Reebok products in India and 10 other Asian countries</a> <a href="https://www.businessinsider.in/business/startups/news/after-acquiring-scoopwhoop-good-glamm-group-buys-missmalini/articleshow/88268772.cms" data-type="tilCustomLink">After acquiring ScoopWhoop, Good Glamm Group buys MissMalini</a> <a href="https://www.businessinsider.in/stock-market/news/medplus-health-services-is-a-good-play-on-growing-e-commerce-pharmacy-space-say-analysts/articleshow/88265079.cms" data-type="tilCustomLink">MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300</a>

Adani signs world's largest green power purchase agreement with Solar Energy Corporation of India

AdGreen Energy (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>), the renewables arm of the Adani Group, on Friday announced that its fourth wind-solar hybrid power plant at Jaisalmer in Rajasthan is fully operational and the asset has been capitalised. The combined operational generation capacity of this newly added hybrid power plant is 700 MW and has a power purchase agreement (PPA) at Rs 3.24/kwh for 25 years, according to a statement from the firm released on Friday. This new hybrid power plant consists of a combination of 600 MW solar and 510 MW wind plants. The company said its latest hybrid plant deploys advanced renewable technologies like bifacial solar PV modules and horizontal single-axis trackers (HSAT) systems to enable maximum electricity generation from solar energy. A bifacial panel can generate power from both sides, boosting overall electricity production. The plant is co-located and is designed to deliver capacity utilisation factor (CUF) of minimum 50 per cent, the highest CUF of any renewable project in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The firm said the plant harnesses the potential of renewable energy by resolving intermittency of the generation and provides a more reliable solution to meet the rising power demand. With this, AGEL's operating wind-solar hybrid portfolio has now reached 2,140 MW, continuing to be the largest in the world, according to the company statement. With the successful operationalisation of the 700 MW plant, the world's largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW, <keyword id="4343578" type="General" weightage="100" keywordseo="adani-green" source="Orion">Adani Green</keyword> said on Friday. The plant is housed under AGEL's 100 per cent subsidiary -- Adani Hybrid Energy Jaisalmer Four Limited. "Earlier in May 2022, AGEL had operationalised India's first hybrid power plant of 390 MW," Adani Green said in the statement, adding that this was followed by the commissioning of the world's largest co-located hybrid power plant of 600 MW in September 2022 and the third hybrid power plant of 450 MW in December 2022. "All three of these hybrid energy generation assets are located in Jaisalmer, Rajasthan." Adani Green Energy (AGEL) has one of the largest global renewable portfolios with the overall portfolio of 20.4 GW including operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include <keyword id="1937268" type="General" weightage="50" keywordseo="solar-energy-corporation-of-india" source="Orion">Solar Energy Corporation of India</keyword> (SECI), National Thermal Power Corporation (NTPC) and various State Discoms. AGEL, a renewable energy generation company, which was listed in 2018, is helping India meet its COP26 goals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/revealed-first-glimpse-of-indias-c-295-aircraft-that-airbus-and-tatas-will-co-produce/articleshow/98384456.cms">Revealed: First glimpse of India's C-295 aircraft that Airbus and Tatas will co-produce</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a>

Adani Green says its operating renewable portfolio reaches 8,024 MW, largest in India

By Yoshita Singh United Nations, Jul 9 () India is a "good example" as solar auctions have seen popularity amidst the height of the COVID-19 pandemic, UN chief Antonio Guterres said on Thursday, underlining that renewable energy is the only energy source expected to grow in 2020 and offers more jobs than the fossil fuel industry. In his remarks to the International Energy Agency 'Clean Energy Transition Summit', UN Secretary General Guterres urged the international community to commit to no new coal and to end all external financing of coal in the developing world. "Coal has no place in COVID-19 recovery plans. Nations must commit to net-zero emissions by 2050 and submit more ambitious national climate plans before COP-26 next year," he said. "The seeds of change are there. Renewable energy is the only energy source expected to grow in 2020. Solar auctions have seen popularity amidst the height of the pandemic. India serves as a good example. Renewables offer three times more jobs than the fossil fuel industry," Guterres said. Last month, Adani Green Energy said it has bagged the first of its kind manufacturing-linked solar contract worth Rs 45,000 crore from the Solar Energy Corporation of India (SECI) to develop 8 GW electricity generation capacity and 2 GW equipment manufacturing facility in the country. Guterres said he has asked all countries to consider six climate positive actions as they rescue, rebuild and reset their economies. "We need to make our societies more resilient. We need green jobs and sustainable growth," he said, adding that bailout support to sectors such as industry, aviation and shipping should be conditioned on alignment with the goals of the Paris Agreement. Countries also need to stop wasting money on fossil fuel subsidies and place a price on carbon, he said, noting that countries need to consider climate risk in their decision making. "Every financial decision must take account of environmental and social impacts. Overall, we need to work together." Guterres said while he is encouraged that some COVID-19 response and recovery plans put the transition from fossil fuels at their core, some countries have used stimulus plans to prop up oil and gas companies that were already struggling financially and others have chosen to jumpstart coal-fired power plants that don't make financial or environmental sense. He stressed that nations must limit temperature increase to 1.5 degrees Celsius to avert more and worse disasters. "This means net-zero emissions by 2050, and 45 per cent cuts by 2030 from 2010 levels. This is still achievable." The UN chief noted that the rationale for the clean energy pathway is economics. "Per kilowatt hour, solar energy is now cheaper than coal in most countries. If we had any doubt about the direction the wind is blowing, the real economy is showing us," he said, adding that the business case for renewable energy is now better than coal in virtually every market. Fossil fuels are increasingly risky business with fewer takers." YAS PMS PMS

India a 'good example' as solar auctions gain popularity amid COVID-19 pandemic: UN chief

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Adani signs world's largest green power purchase agreement with Solar Energy Corporation of India

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Adani Green says its operating renewable portfolio reaches 8,024 MW, largest in India

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India a 'good example' as solar auctions gain popularity amid COVID-19 pandemic: UN chief

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