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AsiaElec RENEWABLES AsiaElec
India awards largest ever
solar contract to Adani
INDIA ADANI Green Energy (AGEL) has won an as decarbonisation must be simultaneous objec-
8-GW contract to build solar capacity across tives,” he added.
India for state-owned Solar Energy Corporation The 8-GW deal means that AGEL now has 15
of India (SECI). GW in operation, under construction or under
The deal is the world’s largest single tender to contract globally.
date, and involves 2 GW by 2022 and a further 2 The deal would also mean that AGEL would
GW each year until 2025. overtake ReNew Power as India’s largest renew-
AGEL will also build 2 GW of annual solar able player, with its 15-GW portfolio beating
cell and module factories by 2022 as part of ReNew’s 8.65 GW and Azure Power’s 7 GW.
efforts by India’s Ministry of New and Renewa- AGEL aims to have 25 GW of installed capac-
ble Energy to build up the country’s indigenous ity by 2025, which will require $15bn of total
manufacturing capacity. Adani already operates investment in green energy by that date.
1.3 GW of solar manufacturing capacity in India “This award is yet another step in our nation’s
at its Adani Solar (Mundra Solar) subsidiary. climate change promise to the world as well as
This kind of manufacturing-linked solar enabling our nation’s Atmanirbhar Bharat Abhi-
agreement is a first for India’s SECI. yan (Self-Reliant India Programme). It is another
This award involves a single investment of step towards fulfilling our Group’s Nation Build-
$6bn and will create 400,000 direct and indirect ing vision,” said Adani.
jobs. It will also displace 900mn tonnes of carbon While Adani is pushing ahead with solar in its
dioxide emissions over its lifetime, AGEL said. home market, the group’s power generation arm
The new solar capacity will be built at vari- is also developing the Carmichael coal mine in
ous locations in India, but will include a single Queensland’s Galilee Basin.
2-GW site. This would be the joint largest single The project has proved to be extremely con-
solar development in the world, alongside Abu troversial, and has had trouble raising finance.
Dhabi’s Al Dhafra project, to be built by EDF and However, the Indian government is keen to
JinkoSolar. reduce coal imports and bolster domestic pro-
“We are honoured to be selected by SECI for duction, thereby exposing the Carmichael pro-
this landmark solar award,” said Gautam Adani, ject to a potentially weak Indian market in future.
chairman of the Adani Group. Although Adani wants to sell to India, it can-
“In today’s world, climate adaptation cannot not escape the prospect that Asia has less need
be considered independent of economic devel- for Australian coal, thereby making the Carmi-
opment priorities and both job creation as well chael project a more risky venture.
P8 www. NEWSBASE .com Week 23 10•June•2020
