Indian renewable energy company Adani Green Energy Limited (AGEL) has announced commissioning the country's '1st ever' wind and solar hybrid power generation plant in India's Rajasthan with 390 MW capacity.
The company won the rights to execute the project in an auction conducted by the Solar Energy Corporation of India (SECI), winning the project for INR 2.69 per kWh tariff and with which it holds a 25-year power purchase agreement (PPA) for the same project (see INR 2.69 Lowest Tariff For SECI Hybrid Tender).
This, the company claims, is well below the average power procurement cost (APPC) at the national level. Located in Jaisalmer district, the plant was completed by a company subsidiary called Adani Hybrid Energy Jaisalmer One Limited (AHEJOL).
It takes the company's total commissioned capacity to 5.8 GW and its renewables portfolio to 20.4 GW as it targets 45 GW capacity by 2030.
"This project is a part of the first construction facility by international banks in Adani Green. It is commendable that the project was successfully executed amidst the uncertainties imposed by the global pandemic," said AGEL's MD and CEO Vneet S. Jaain who termed wind-solar hybrid energy as an important aspect of the company's business strategy.
Back in March 2021, AGEL raised $1.35 billion financing from 12 international banks to initially fund 1.69 GW of solar and wind hybrid projects in Rajasthan (see Adani Green Raises $1.35 Billion From 12 Banks).