Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, and TotalEnergies have entered into an agreement to create a new joint venture, equally owned by both entities, aimed at managing a 1,150 MW AC (1,575 MWp) solar portfolio. The projects are located at the world’s largest renewable energy plant in Khavda, Gujarat. AGEL will contribute its current assets to the new JV, while TotalEnergies plans to inject $444 million to accelerate the development of these projects.
The electricity generated by the solar projects will be sold through power purchase agreements (PPAs) signed with Solar Energy Corp. of India (SECI), and through sales on the wholesale market.
AGEL is developing the world’s largest renewable energy plant on barren wasteland at Khavda. Spanning over 538 km², five times the size of Paris, the site will boast solar and wind capacity of 30 GW. Of this, AGEL has already operationalized 2.25 GW of solar and wind energy capacity at the site.
Once completed, the plant will supply affordable clean energy to over 16 million homes in India, generate over 15,200 green jobs and avoid about 58 million tons of CO2 emissions annually.
AGEL develops, owns, and operates utility scale grid-connected solar, wind, hybrid and hydro pumped storage renewable power plants. It currently has an operating renewable portfolio of 11.2 GW, the largest in India, spread across 12 states. The company aims to achieve 50 GW by 2030.
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