39.1 C
New Delhi
Wednesday, May 22, 2024

AGEL to invest $5 billion in Khavda for expanding RE capacity by 2026

More from Author

In Short:

Adani Green Energy plans to invest $5 billion in expanding solar and wind power capacities at its Gujarat RE park by 2026. They aim to set up the world’s largest RE plant with 30 GW capacity by 2030. The company surpassed the 10 GW mark in operating portfolio and aims for 45 GW by 2030. They also plan significant investments in renewable energy manufacturing.

Adani Green Energy to Invest $5 Billion in Gujarat Renewable Energy Park Expansion

**Adani Green Energy (AGEL)** will be pouring in a whopping ₹41,400 crore, equivalent to $5 billion, to enhance the solar and wind power capacities at their flagship renewable energy (RE) park located in Gujarat by the year 2026.

Khavda Expansion

The expansion plans will see the Khavda project’s capacity, currently at 2 GW, skyrocket to 11 GW within the next two years. The project sprawls over an area nearly the size of Mumbai or five times that of Paris.

**AGEL** MD Vneet Jaain mentioned, “In FY25, we are planning to deploy 4 GW at Khavda. We have already completed 2 GW. So, we will have 6 GW by March 2025. Then every year we have a plan of setting up a minimum 5 GW.”

Jaain further elaborated on the investment saying, “The total investment in Khavda is around ₹1.5 lakh crore. Generally, as a thumb rule, solar requires around ₹4.5-4.6 crore per megawatt (MW) and wind about ₹6.5 crore.”

He also assured that a comprehensive financial plan has been laid out for the upcoming years up to 2030, amounting to 45 GW of capacity for **AGEL**.

Manufacturing Push

**AGEL** is not just stopping at setting up renewable energies; they are also venturing into establishing a complete RE manufacturing ecosystem covering wind, solar, electrolyser, and associated equipment at Mundra in Gujarat.

The Group’s subsidiary, Adani New Industries (ANIL), under Adani Enterprises (AEL), is leading this manufacturing ecosystem initiative.

Jaain disclosed the company’s manufacturing expansion plans till 2027 stating, “Ultimate aim is to go for a minimum of 5 GW in wind and 10 GW for solar with a complete manufacturing ecosystem. For wind, I personally believe that we are adding 1 GW by March 2025 and maybe 2.5 GW by March 2027. For solar, we can say in 3.5 years from now. For this, over ₹30,000 crore is the investment.”

(The reporter was in Ahmedabad at the invitation of Adani Green Energy)

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article