Gautam Adani Companies Complete 1,150 MWac Solar JV At the World’s Largest Renewable Energy Plant In Khavda, Gujarat – EQ
In Short : Gautam Adani’s companies have completed a 1,150 MWac solar joint venture at the world’s largest renewable energy plant in Khavda, Gujarat. This milestone marks a significant contribution to India’s renewable energy capacity. The Khavda plant, located in Gujarat’s Kutch region, is a key part of the nation’s efforts to accelerate its transition to clean energy and reduce carbon emissions.
In Detail : Adani Green Energy Limited (AGEL) has entered into a joint venture agreement with TotalEnergies Renewables Singapore Pte Limited (TotalEnergies) and Adani Renewable Energy Sixty-Four Limited (ARE64L). This partnership will see Adani Green Energy and TotalEnergies jointly own 50 per cent each of ARE64L, which houses a 1,150 MWac project portfolio.
As part of the agreement, TotalEnergies has acquired a 50 per cent stake in ARE64L for USD 444 million. This initial investment will be followed by further investments as the under-development projects within ARE64L achieve commercial operations. The investment will help Adani Green Energy monetize its assets while retaining control and unlocking capital for future growth.
The joint venture will be governed by a 50:50 governance setup between Adani Green Energy and TotalEnergies. The Board of ARE64L will comprise equal members from both companies, with the chairman being a nominee of Adani Green Energy. The Board will oversee internal controls and strategize for ARE64L and its subsidiaries.
This partnership reinforces the strategic alliance between Adani Green Energy and TotalEnergies and will support Adani Green Energy’s goal of becoming the Indian leader in renewable energy with a target of 50 GW of renewable power capacity by 2030.
Earlier, Adani Green Energy and Adani Power were awarded a major contract by the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply 6600 MW of hybrid solar and thermal power. Adani Green Energy will supply 5 GW of solar power from its renewable energy park in Khavda, Gujarat, while Adani Power will supply 1496 MW of thermal power from a new ultra-supercritical thermal power project. The solar capacity has been allocated at a flat tariff of Rs 2.70 per kWh for 25 years, and the thermal capacity has been awarded on a DBFOO basis with coal linkages allocated under the SHAKTI Policy. This significant development marks a major milestone in Maharashtra’s renewable energy initiatives and reinforces Adani Green Energy’s leadership in India and the global renewable energy market.
About Adani Green Energy Limited
Adani Green Energy Limited (AGEL) is India’s largest and one of the leading renewable energy companies in the world enabling the clean energy transition. AGEL develops, owns, and operates utility-scale grid-connected solar, wind, hybrid and hydro-pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals. AGEL is focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling large-scale adoption of affordable clean energy. AGEL’s operating portfolio is certified ‘water positive for plants of more than 200 MW capacity’, ‘single-use plastic free’ and ‘zero waste-to-landfill’, a testament to the company’s commitment to powering sustainable growth.
About Adani Power Limited
Adani Power Limited (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company operates an installed thermal power capacity of 17,010 MW spread across ten power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat. With the help of a world-class team of experts in every field of power, Adani Power is on course to achieve its growth potential. The company is harnessing technology and innovation to transform India into a power-surplus nation and provide quality and affordable electricity for all.
