Adani Green Energy Limited (AGEL) and Total Energies have announced the formation of a joint venture (JV), equally owned by both partners, to manage a portfolio of 1,150 MW solar projects.
According to Adani Renewables, these projects are part of the world's largest renewable energy plant located in Khavda, Gujarat.
AGEL will contribute its existing assets to the JV, while Total Energies will invest USD 444 million to accelerate the development of these projects.
The electricity generated from these 1,150 MW solar projects will be sold through Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI) and on the wholesale market .
AGEL is developing the world's largest renewable energy plant on a barren waste land in Khavda, Gujarat,overing an area of 538 square kilometers--five times the size of Paris.
AGEL has already operationalized 2,250 MW of solar and wind energy capacity at the site. Once completed, the plant will provide affordable clean energy to over 16 million homes in India, create more than 15,200 green jobs, and avoid approximately 58 million tons of CO2 emissions annually.
Adani Green Energy Limited (AGEL) is one of the largest renewable companies in India, with a current project portfolio of 20,434 MW.. The company has a portfolio of 54 operational projects and 12 projects under construction.