Adani Green Energy, India’s largest renewable energy producing firm, has announced the completion of the world’s largest solar-wind hybrid project. In a news release, the company announced the successful commissioning of a 700 megawatt solar-wind hybrid project in Rajasthan’s northern state.
The project is in the Rajasthan district of Jaisalmer. In the area, Adani Green has three more solar-wind hybrid projects with a total capacity of 1,440 megawatts. The latest project brings the company’s solar-wind hybrid project portfolio to a whopping 2,140 megawatts, accounting for approximately 27% of its operating capacity.
Adani won this project in a competitive auction and signed a 25-year PPA at a rate of Rs 3.25 per kilowatt-hour. The project uses bifacial solar modules equipped with single-axis trackers. The company has claimed that the project will deliver power at a capacity utilization factor of at least 50%, making it the most efficient solar or wind power project in India.
Adani’s financial difficulties are well documented. Adani Green Energy’s shares have fallen by more than 83% after reaching a high of Rs 3,000 in May 2022. Unconfirmed sources suggest that the corporation may suspend capacity increase and instead focus on repaying outstanding debt in order to appease lenders’ and investors’ rising fears.
Notwithstanding its financial difficulties, Adani remains India’s largest and most prolific renewable energy generator. It has a large 20.4 gigawatt pipeline with offsets dispersed across the country.
Reference- Mercom India, Economic Times, Money Control, Business Standard