Adani Green Energy Has Become The World’s Largest Wind-solar Hybrid Power Developer
December 7, 2022: Adani Green Energy commissions 450 MW hybrid plant in Rajasthan. Along with this, the company has the largest operational hybrid power generation capacity of 1,440 MW.
Adani Group’s renewable arm Adani Green Energy Ltd (AGEL) on Monday said it has commissioned its third wind-solar hybrid power plant at Jaisalmer in Rajasthan with a combined operational generation capacity of 450 MW, thus becoming the world’s largest wind. Solar hybrid power farm developer.
In a regulatory filing, the company said the plant has a 25-year agreement with SECI (Solar Energy Corporation of India) worth Rs. 2.67/kwh at the rate of Power Purchase Agreements (PPA).
This new hybrid power plant comprising of 420 MW solar and 105 MW wind plant has been implemented with state-of-the-art technology.
With this hybrid plant, Adani Green Energy now has the largest operational hybrid power generation capacity of 1,440 MW, the company mentioned.
Earlier, in May 2022, AGEL commissioned India’s first hybrid power plant of 390 MW. This was followed by the commissioning of the world’s largest co-located hybrid power plant of 600 MW in September 2022.
Both these hybrid energy generation assets are located in Jaisalmer. With the successful operation of this 450 MW plant, AGEL now has a total operational generation capacity of 7.17 GW.
This also makes AGEL the world’s largest wind-solar hybrid power farm developer. The newly commissioned 450 MW hybrid power plant is housed at Adani Solar Energy Jaisalmer One Pvt Ltd, a subsidiary of AGEL. AGEL has one of the largest global renewable portfolios with an overall portfolio of 20.4 GW, including assets under operation, under construction and awarded to investment-grade counterparties.
The company develops, builds, owns, operates and maintains utility-scale grid-connected solar, wind farms and hybrid plants.
Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC) and various state discoms are its major customers.
Adani Green raised a Japanese yen-denominated refinancing facility On Thursday (December 1), AGEL, through its subsidiary Adani Solar Energy AP Six Pvt Ltd, raised a JPY (Japanese Yen) denominated facility to refinance its existing debt.
The facility includes a JPY 27,954 million ($200 million), amortized project loan facility and a 16-year debt structure with a door-to-door term of 10 years and an average term of over 8 years.
The project loan facility is supported by AGEL’s strong relationship with its two core relationship banks – MUFG Bank and Sumitomo Mitsui Banking Corporation with equal partnerships.
This facility is also a testament to AGL’s strong relationship with its core banking partners which creates appetite for larger size and longer duration through the development of market instruments tapping into liquidity and expanding the reach of fund raising.
|Are you an
Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories