Adani Green Energy's Major Leap in Solar Power

In a significant move towards sustainable energy, Adani Green Energy Sixty Nine Limited (AGE69L) has signed a Power Purchase Agreement (PPA) with the Uttar Pradesh Power Corporation Limited (UPPCL) for the supply of 400 MW solar power.

Strategic Development in Renewable Energy

The agreement, which has been disclosed to SEBI as per listing obligations, involves the construction of a solar photovoltaic power facility in Rajasthan. Kamalesh Bahadur Singh, the director administration at UPPCL, highlighted the competitive tariff of Rs 2.57 per unit locked in for 25 years, with the project expected to be operational by June 2027.

Uttar Pradesh's Solar Energy Ambitions

Currently, Uttar Pradesh benefits from 3200 MW of solar power, including 2700 MW from utility-scale projects and 500 MW from rooftop installations. The state is ambitiously targeting to elevate its solar capacity to 22,000 MW by 2026-27, marking a significant step towards renewable energy adoption.