Adani Green Energy saw a 9% increase in its stock price on March 14, after its subsidiary Adani Renewable Energy Fifty Nine Limited signed a power purchase agreement with Solar Energy Corporation of India (SECI) for 534 megawatt (MW) solar power projects, as per the company’s by regulatory filing from the company.

With the execution of these agreements, Adani Green Energy’s total renewable energy project capacity has increased to 21,778 megawatt alternating current (MWac).

Recently, Adani Green Energy also announced that it has operationalised a cumulative capacity of 1,000 MW solar energy at Khavda, in Gujarat.

Adani Green Energy Ltd (AGEL) has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power.

This agreement completes the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender awarded to AGEL by SECI in June 2020, making it the world’s largest solar tender.

Adani Green now has tied up PPAs of 19.8 GW, and the balance is merchant capacity in its 20.6 GW locked-in portfolio.

AGEL operates utility-scale grid-connected solar, wind, and hybrid renewable power plants, with an operating renewable portfolio of 8.4 GW and a target of 45 GW by 2030. The company is committed to powering sustainable growth and leveraging technology to reduce costs.

At 2:04 pm, the shares of Adani Green Energy were trading 8.19% higher at Rs 1,866.35 on NSE.