Adani Green Stocks Rise As Company Starts 551MW Solar Plant In Gujarat - Vibes Of India

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Adani Green Stocks Rise As Company Starts 551MW Solar Plant In Gujarat

| Updated: February 15, 2024 13:25

Adani Green has operationalised the 551 MW solar capacity in Gujarat’s Khavda by supplying power in the national grid, the compnay has said.

The facility is reported to be the world’s largest renewable energy park.

Following the announcement, Adani Green Energy stock rose 3.57 per cent to hit a high of Rs 1,882.

The energy company plans to develop 30 GW of renewable energy capacity at the Khavda park, staggeringly in the next five years of its optimum operationalising.

“When completed, the Khavda RE park will be the largest renewable energy installation in the world,” it stated, adding that energy from the park can power 16.1 million homes each year.

“AGEL is best positioned to build this record-setting gigascale plant with no parallel in the world’s clean energy sector,” it said.

The solar PV developer said that Adani Green Energy achieved the milestone within 12 months of commencing work on the Khavda renewable energy park, starting from development of basic infrastructure, including roads and connectivity, and creating a self-sustaining social ecosystem.

The company underscored the region’s wind and solar resources, making it ideal for gigascale renewable energy development. Adani Green stated that it expects the park to create 81 billion units of clean electricity, as well as create over 15,200 green jobs.

The barren terrain of Rann of Kutch was also transformed into a habitable environment for its 8,000-strong workforce, Adani Green stated.

Gautam Adani, Chairman, Adani Group said, “Adani Green Energy is creating one of the world’s most extensive renewable energy ecosystems for solar and wind. Through bold and innovative projects like the Khavda RE plant, AGEL continues to set higher global benchmarks and rewrite the world’s planning and execution standards for giga-scale renewable energy projects. This milestone is a validation of the Adani Group’s commitment and leading role in accelerating India’s equitable clean energy transition journey towards its ambitious goals of 500 GW of renewable energy capacity by 2030 and carbon neutrality.”

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