Adani Renewable Energy Holding Fifteen Limited (AREHIFTINL), a company of Adani Green Energy Limited (AGEL), has bagged a 150 MW capacity solar power project contract from Torrent Power. AREHFiftinL, a wholly-owned subsidiary of Adani Green Energy, bagged the project through a competitive bidding process for the solar photovoltaic power projects to be set up in Gujarat and connected to the grid.
Charges for a period of 25 years is Rs 2.22 per kWh
The information given to the stock market BSE stated that AREHFiftNL has been awarded a 150 MW solar power project. The prescribed fee for this project capacity is Rs 2.22 per kWh for a period of 25 years. The project is expected to be commissioned by the third quarter of FY 2023.
It added that the company currently has 3,520 MW renewable energy projects in operation. With this, AGEL now has a total portfolio capacity of 15,390 MW renewable energy projects, of which 11,870 MW projects are in the implementation phase.
Last year, Adani Green Energy transferred 205 MW of solar assets to its joint venture business for Rs 1,632 crore. The company's joint venture is with French energy giant Total SA. In a communication sent to the Bombay Stock Exchange, the company said that it had earlier formed a 50:50 joint venture with Total for 2,148 MW solar complexes in India.
Adani Green Energy Limited (AGEL) announced on 29 August 2019 to acquire 10 MW of 10 MW solar assets from Essel Green Energy and Essel Infraprojects for Rs 1,300 crore.