The latest ranking of global solar companies by Mercom Capital ranks the Adani Group as the #1 global solar power generation asset owner in terms of operating and off-taker contracted solar projects. Adani’s renewable energy portfolio exceeds the total capacity installed by the entire US solar industry in 2019 and will displace over 1.4 billion t of carbon dioxide over the life of its assets. The group is one of the most fully integrated solar players in the world, manufacturing solar cells and modules, undertaking project development, construction, financial structuring and owning and operating its assets through its robust internal asset management platform. According to the ranking, Adani is roughly 70% larger than the next-largest global solar power generation company.
Adani Green Energy Limited (AGEL) established its first solar project in 2015 and even as recently as 2017 the Company had completed just two solar projects. The Company went public in 2018 and has accelerated its presence to reach the current milestone of being the largest solar player in the world in a short span of just five years, and has a stated target of reaching 25 GWac of renewable power by 2025.
In response to this ranking, Mr. Gautam Adani, Chairman of the Adani Group said: “Achieving this ranking is a direct result of our commitment to creating the infrastructure needed for a clean-powered future. While we are pleased to be ranked the largest solar player in the world, we recognise that there is a lot more that remains for us to do as the world transitions into an increasingly decarbonised energy landscape. We anticipate that over the next decade several existing business models will be impacted as a result of the disruption caused by the intersection of plummeting cost of renewable energy and the ability of technology to rescale industries.
We expect our renewable energy platform will create new possibilities for our core business and we will be able to address some of the most intractable problems that humankind has faced, including affordable decentralised energy, availability of distributed clean water, green hydrogen as an alternate fuel, and micro agriculture, among others. Building partnerships with major industrials, data centre providers, and global integrated energy players that seek to reduce their carbon footprints will also continue to further accelerate our growth. AGEL was launched just five years ago, our story is only beginning.”
AGEL also achieved a top spot in the global ranking with the largest solar offtake award ever of 8 GWac by Solar Energy Corporation of India (SECI). In addition, AGEL is building the largest solar-wind hybrid park in the world of 1.69 GWac – making it the definitive leader in mega-scale renewable energy project deployments. As India pushes to invite more global business partners to invest domestically, it sees its growing renewable footprint as helping companies simultaneously fulfil two essential goals: tapping into one of the fastest growing consumer markets and achieving their sustainability targets. The Adani Group has positioned itself at this intersection to help its partners attain both these objectives.
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Read the article online at: https://www.energyglobal.com/solar/02092020/adani-ranked-as-the-number-one-global-solar-power-generation-asset-owner/