Gautam Adani-led Adani Green Energy will invest Rs 45,000 crore to execute the world’s largest solar order. Adani’s group has won the project from Solar Energy Corporation of India (SECI). Under the project, the company has to develop 8 gigawatts (GW) of solar projects, and further, it has to establish 2 GW of solar cell and module manufacturing capacity, for $6 billion (Rs 45,000 crore at $1 = Rs 75).
This deal will take Adani Green’s current installed capacity to 25 gigawatts from 6 gigawatts by 2025, making it the world’s largest renewable power company.
The company commented about the deal, it said the deal is the largest of its type and also largest in the world and the investment in this deal will create 4 lakh direct and indirect jobs.
“The company will construct 8 gigawatts of generation projects, while group company Adani Solar will build 2 gigawatts of manufacturing capacity for solar cells and modules,” Adani Green said on Tuesday.
Gautam Adani the chairman of Adani Group further said that PM Modi committed at the 2015 United Nations Climate Change Conference in Paris that India would lead the Climate Change revolution and will fulfill the majority of its COP21 commitments nine years ahead of the 2030 deadline.
The solar manufacturing facility and the first 2 GW of capacity will start by 2022 however the remaining capacity will be covered in increments by 2025.