Adani Renewable Energy Holding Eight, a subsidiary of Adani Green Energy, has won a contract to build a 600MW wind-solar hybrid power project in India.
The fixed tariff for this project capacity is Rs. 2.41/ kWh for a period of 25 years.
The tender was awarded by the Solar Energy Corporation of India (SECI). Other winners in the 1.2GW SECI auction were ABC Renewable Energy, a subsidiary of Axis Energy, and AMP Energy, which secured 380MW and 130MW of capacity respectively and also received tariffs of INR2.41/kWh. ACME Solar was awarded 90MW with a tariff of INR2.42/kWh ($0.0331/kWh).
The project is expected to be commissioned in 18 months from the effective date of PPA.
Vneet Jaain, CEO of Adani Green Energy, said: “Adani Green is committed to ramp up creation of a sustainable ecosystem for transitioning towards a greener future.”
He added that the wind-solar project “is in line with our ambition to achieving renewable power capacity of 25GW by 2025 and becoming the world’s largest renewable power company by 2030 and contribute significantly towards India’s decarbonisation targets.”
According to the Institute for Energy Economics and Financial Analysis, India’s solar-wind hybrid capacity is set to reach 11.7GW by 2023, and such facilities could play a major part in helping India reach its clean energy deployment goals.
This wind-solar hybrid project strengthens AGEL’s pioneer position for renewable energy hybrid projects in India. Hybrid projects are seen to enable optimal utilisation of grid infrastructure, lead to a more sustainable integration of renewable energy and works as a key enabler for growth of renewable power in India.