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

01 Oct 2021 CW Team

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

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..