Adani Green Energy, India’s largest renewable energy generation company, has announced the completion of its latest solar-wind hybrid project.
In a press release, Adani Green Energy announced the successful commissioning of a 700 megawatt solar-wind hybrid project in Rajasthan’s northern state. According to the company, it is the world’s largest hybrid power project.
The project is in the Rajasthan district of Jaisalmer. In the district, Adani has three other 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 nearly 27% of its operational capacity.
Through a competitive auction, Adani won this project and signed a power purchase agreement for 25 years at a rate of Rs 3.25 per kilowatt-hour. Bifacial solar modules with single-axis trackers are used in the project. The project, according to the business, will produce electricity at a capacity utilisation factor of at least 50%, making it India’s most effective solar or wind power facility.
The financial difficulties of Adani are well known. Shares of Adani Green Energy have fallen more than 83% from their peak of Rs 3,000 in May 2022. Unconfirmed rumours claim that the company may reduce capacity expansion and concentrate on debt repayment in order to allay the mounting worries of lenders and investors.
Adani continues to be one of India’s biggest and most successful renewable energy developers despite its financial difficulties. It has a sizable 20.4 gigawatt pipeline with offsets located all throughout the nation.
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