Adani inks pact with Essel Green for 40 MW solar project in Odisha
POWER & RENEWABLE ENERGY

Adani inks pact with Essel Green for 40 MW solar project in Odisha

Adani Renewable Energy has signed an agreement with Essel Green Energy to acquire a 40 MW operational solar project for Rs 2.9 billion in Odisha.

The solar power project is based on a long-term power purchase agreement (PPA) of 22 years with Solar Energy Corporation of India (SECI) for a tariff of Rs 4.23 per kWh.

After the acquisition, Adani Renewable Energy's portfolio would stand at 19.8 GW. From the total, 5.4 GW power capacity is operational, 5.7 GW capacity is under construction, and the remaining 8.7 GW are in the pipeline.

Managing Director and Chief Executive of Adani Green Energy, Vneet S Jaain, told the media that the company is focused on opportunities to create value for shareholders, along with environment-friendly green energy in India. With this solar project acquisition of 40 MW, AGEL will have its footprints across 12 states in the country. The company is on a growth path to become the world's largest renewable sector by 2030.

Adani Green had signed a share purchase agreement in May to acquire a 100% stake in SB Energy India from SoftBank Group and Bharti Group. The renewable portfolio of SB Energy India is 4,954 MW, spread across four states.

AGEL would acquire 75 MW operational solar assets at a tariff for Rs 4.46 billion in Telangana from Sterling and Wilson, said the sources.

Adani's solar projects acquisition was higher in the second quarter (Q2) of 2021 of 24 GW, compared to 14.6 GW in the previous quarter. In Q2 2021, project developers and independent power producers were the most active, raising the capacity by 13.3 GW.

Image Source


Also read: Adani Group, RIL and 17 other companies bid for making solar modules

Adani Renewable Energy has signed an agreement with Essel Green Energy to acquire a 40 MW operational solar project for Rs 2.9 billion in Odisha. The solar power project is based on a long-term power purchase agreement (PPA) of 22 years with Solar Energy Corporation of India (SECI) for a tariff of Rs 4.23 per kWh. After the acquisition, Adani Renewable Energy's portfolio would stand at 19.8 GW. From the total, 5.4 GW power capacity is operational, 5.7 GW capacity is under construction, and the remaining 8.7 GW are in the pipeline. Managing Director and Chief Executive of Adani Green Energy, Vneet S Jaain, told the media that the company is focused on opportunities to create value for shareholders, along with environment-friendly green energy in India. With this solar project acquisition of 40 MW, AGEL will have its footprints across 12 states in the country. The company is on a growth path to become the world's largest renewable sector by 2030. Adani Green had signed a share purchase agreement in May to acquire a 100% stake in SB Energy India from SoftBank Group and Bharti Group. The renewable portfolio of SB Energy India is 4,954 MW, spread across four states. AGEL would acquire 75 MW operational solar assets at a tariff for Rs 4.46 billion in Telangana from Sterling and Wilson, said the sources. Adani's solar projects acquisition was higher in the second quarter (Q2) of 2021 of 24 GW, compared to 14.6 GW in the previous quarter. In Q2 2021, project developers and independent power producers were the most active, raising the capacity by 13.3 GW. Image SourceAlso read: Adani Group, RIL and 17 other companies bid for making solar modules

Next Story
Infrastructure Urban

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Next Story
Building Material

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

Next Story
Infrastructure Urban

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?