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Adani Green Energy Wins World’s Largest Solar Bid: Key Points

The share price of Adani Green Energy zoomed to a record high after the firm won the world's largest solar bid.

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Adani Green Energy  (AGEL) has won the first of its kind manufacturing-linked solar agreement from the Solar Energy Corporation of India (SECI).

On Tuesday, the share price of Adani Green Energy zoomed to a record high after the firm won the world's largest solar bid.

The company bagged the world's biggest solar tender that will construct a photovoltaic (PV) power plant of 8,000 MW and setting up a residential sun oriented board fabricating limit of 2,000 MW with an all-out venture of generally $6 billion.

The SECI board has permitted the tenders for the domestic manufacturing connected deal, which shut in November a year ago, at a tax of Rs 2.92 per unit found through a converse sale.

Here are some key highlights:

  1. The biggest award of its category involves a solitary venture of Rs 45,000 crore ($ 6 billion) and will make 400,000 immediate and backhanded employments.
  2. This project will likewise dislodge 900 million tons of carbon dioxide over its lifetime
  3. The Indian domiciliary manufacturing connected ventures to have a higher tax roof of Rs 2.93 per unit against normal Rs 2.60 for general activities.
  4. Adani Green had started the lead in SECI's assembling connected solar tender a year ago by offering to set up a sun based assembling limit of 1,000 MW and a sunlight based force task of 4,000 MW.
  5. The Adani Green Group will create 8 GW of thermal undertakings and build up 2 GW of extra thermal cell and module producing limit.
  6. The reverse sell-off begins from a more elevated level, giving advertisers budgetary headroom as the general winning rate for solar power force drifts around Rs 2.50 per unit.
  7. The SECI likewise offers PPAs (power purchase agreements) for multiple times the offered size if there should arise an occurrence of assembling connected ventures.
  8. The initial 2 GW will come online by 2022 and the ensuing 6 GW limit will be included 2 GW yearly additions through 2025.
  9. Azure Power had picked to offer for a pack fabricating limit of 500 MW.