Adani Green Energy has made significant strides in its renewable energy initiatives by securing a contract worth Rs13,810 million ($154.5 million) with SWREL for solar projects at the Khavda Renewable Energy Park. The deal further cements Adani Green’s dominance as India’s largest and world’s third largest renewable energy developer. Their remarkable portfolio consists of more than 24.4 GWp from projects that have been commissioned or are currently under construction.
The contract recently signed doesn’t include taxes. It consists of the provision of goods and services onsite for a balance of systems package for three solar power projects at Khavda. With a massive 6GW of solar projects under development, Adani Green Energy has been leading the charge on India’s sustainable revolution in the region. They intend to deliver at least 5GW of said projects by FY 2025/26.
Details of the Partnership
The partnership between Adani Green Energy and SWREL further solidifies SWREL’s leadership in the engineering, procurement, and construction (EPC) sector of India’s rapidly growing solar market. To date, SWREL, one of the largest solar EPC players in the country, has seen record-setting order inflows. This fiscal year, they’ve assumed more than Rs64.5 billion worth of new orders.
Chandra Kishore Thakur, a representative from SWREL, expressed enthusiasm about the collaboration:
“We are delighted to announce a strategic five-year partnership framework agreement with Adani Green, and also our largest domestic engineering, procurement, and construction (EPC) order this fiscal year.”
This innovative five-year strategic partnership will accelerate the continued deployment of renewable energy projects. More importantly, it will increase the joint operational capacity of both companies in terms of execution on future projects.
Khavda Renewable Energy Park
The Khavda Renewable Energy Park located in the Kutch district of Gujarat. It has been a crucial partner for some of Adani Green Energy’s solar ventures. The park is home to several projects that will help India make a big impact on its ambitious renewable energy targets. The company’s future priorities include growing its ops and maintenance portfolio. At present, it contains 9.1 GWp of solar projects, including projects already constructed by other entities.
Together with SWREL, this collaboration will help to simplify procedures and work more efficiently in the execution of these projects. Each company is well-funded and has a deep pipeline. As such, they are uniquely poised to cater to the increasing demand for renewable energy in India.
Future Prospects
Combatting climate change by moving towards renewable sources of energy, India sees this as imperative to economic and sustainable development. Collaborations such as Adani Green Energy’s partnership with SWREL are critical to this mission. Together, they ensure that clean energy solutions are deployed at an accelerated pace while fueling the clean energy economy itself.
