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India's Adani Green ranked as world’s No. 1 solar firm

Adani Green has targeted to achieve a total combined solar capacity of 25 GW by 2025. 

Sep 2, 2020 15:30 IST
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Indian renewable energy company, Adani Green has been ranked as the world's number 1 solar energy company in terms of capacity. The company is currently the world's top solar developer with around 2.3 GW of operational projects.

Adani Green Energy Limited has another 2 GW projects under construction and 8 GW of awarded projects (with contracted PPAs) for a total capacity of 12.3 GW. The solar capacity of the company exceeds the total installed capacity of the United States as of 2019.

Adani Group Chairman, Gautam Adani stated on the occasion that the group will further accelerate growth of its clean energy business by building partnerships with global integrated energy players, data center providers and industrialists.

Significance

According to Gautam Adani, Adani Green will create new possibilities for the group's core business and will be able to provide affordable decentralized energy. The company expects clean energy to revamp the energy and infrastructure sector.

The renewable energy company has targeted to achieve a total combined solar capacity of 25 GW by 2025. Their current solar capacity including their online solar and wind projects make up a total of 14.62 GW, after starting operations in 2015.

Adani Green: Key Projects

Adani Green's solar pipeline includes some projects that are under construction and awarded a portfolio and cumulatively accounts for 10,057 MW. Around 10 percent of their solar pipeline is expected to be completed by 2020, 24 percent by 2021, 43 percent by 2022, 62 percent by 2023, 81 percent by 2024 and total 100 percent by 2025.

Adani Green won a major bid in June 2020 to develop solar photovoltaic power projects of 8 GW. The bid is the world's biggest award of projects in the sector and it involves a total investment of around USD 6 billion. 

Besides this, the company had announced a joint venture with Total Solar Singapore in March 2020 for about 2.1 GW of operating solar power projects. 

The company will also manufacture 2 GW worth of solar cells and modules by 2022.

Background

Overall in 2019, the global solar photovoltaics (PV) market grew by 15 percent, adding 120 gigawatts of solar capacity. China was the biggest contributor for this growth with 30 GW solar capacity, followed by the United States, India and Japan.

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