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AGEL commissions 150 MW Solar Power Plant at Kutchh, Gujarat, 3 months ahead of schedule

Posted On: 2021-01-19 23:54:07 (Time Zone: Arizona, USA)


Adani Solar Energy Kutchh One Limited, a step-down subsidiary of Adani Green Energy Limited ("AGEL") has commissioned 150 MWac Solar Power Project. Despite all the challenges of global pandemic Covid-19, unprecedented rain and flood in Kutchh, Gujarat, continuing with the Group's commitment to nation building, the team of experts made it possible to commission the project 3 months prior to its scheduled commissioning date.

This plant has a Power Purchase Agreement ("PPA") with Gujarat Urja Vikas Nigam Limited ("GUVNL") at Rs. 2.67/kWh for a period of 25 years. With this commissioning, AGEL's total operational renewable capacity grows to 3,125 MW.

The plant will be connected to our state-of-the-art Energy Network Operation Centre ("ENOC") that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India.

With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects.

Gujarat contributes to nearly 13% of the renewable energy production in India. The state with a generation capacity of 30 GW presents tremendous opportunities of growth in the renewable energy sector. Capitalising on these opportunities AGEL has commissioned 635 MW renewable energy projects in Gujarat, while projects of 4,730 MW are under implementation.

Speaking on this development Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said, "This is third solar plant commissioned by AGEL over a span of less than a month. The trend demonstrates our sharp focus on timely project delivery and our long-term vision to achieve renewable capacity of 25 GW by 2025. It also reinforces AGEL's commitment to lead India's transition towards a greener future through a strategic approach and operational excellence."

Shares of Adani Green Energy Ltd was last trading in BSE at Rs.997.05 as compared to the previous close of Rs. 953.45. The total number of shares traded during the day was 177734 in over 12906 trades.

The stock hit an intraday high of Rs. 1001.1 and intraday low of 965.65. The net turnover during the day was Rs. 175150232.


Source: Equity Bulls

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