Indian conglomerate Adani Group's renewable energy arm Adani Green Energy Limited (AGEL) has commissioned its Mundra, Gujarat located 2 GW solar PV cells and modules manufacturing plant after receiving commercial operation date (COD) certificate from the Solar Energy Corporation of India (SECI).
The government agency granted the certificate to AGEL subsidiary Mundra Solar Energy Limited (MSEL) on August 17, 2023, according to a brief stock exchange notification issued by the company.
SECI awarded the contract for 500 MW solar manufacturing and 2 GW solar projects capacity each to AGEL and Azure Power in 2020. Under greenshoe option, AGEL increased the awarded capacity to 2 GW for manufacturing and 8 GW projects in 2020 (see World's Largest Solar Award Goes To Adani).
AGEL says it owns 26% stake in MSEL through its wholly-owned subsidiary Adani Renewable Energy Holding Four Limited (AREH4L).
Adani is going for vertical integration for its solar manufacturing portfolio, aiming to scale up the same to 10 GW each for metallurgical grade silica, polysilicon, ingots, wafers, cells and modules. In December 2022, it rolled out the country's 1st locally produced large sized monocrystalline silicon ingot (see Large Sized Mono Silicon Ingot Production Comes To India).
The group currently operates 8.31 GW of renewable energy power generation capacity with another 10.2 GW under execution. By 2030, it aims to grow the same to 45 GW, which would be around 10% of India's 500 GW non-fossil fuel capacity target.
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