India’s largest renewable power generation company, Adani Green Energy, has announced completion of its latest solar-wind hybrid project.
Adani Green Energy announced in a press release that it successfully commissioned a 700 megawatt solar-wind hybrid project in the northern state of Rajasthan. The company claims that it is the world’s largest hybrid power project.
The project is located in the Jaisalmer district of Rajasthan. Adani has three other solar-wind hybrid projects in the district with a combined capacity of 1,440 megawatts. The latest project increases its solar-wind hybrid project portfolio to a mammoth 2,140 megawatts, accounting for nearly 27% of the company’s operational capacity.
Adani secured this project through a competitive auction and entered a power purchase agreement for 25 years at a tariff of Rs 3.25 per kilowatt-hour. The project uses bifacial solar modules equipped with single-axis trackers. The company has claimed that the project will deliver power at a capacity utilization factor of at least 50%, making it the most efficient solar or wind power project in India.
Adani’s financial troubles are well known. Adani Green Energy’s shares have collapsed more than 83% from its highs of Rs 3,000 seen in May 2022. There have been unconfirmed reports that the company may slow down capacity addition and could focus on repaying outstanding debt to assuage growing concerns of lenders and investors.
Despite its financial woes, Adani remains the largest and among the most prolific renewable power developers in India. It has a massive pipeline of 20.4 gigawatts with offsets spread across the country.
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