Adani to start constructing solar projects in Australia next year
Adani aims to develop renewable energy projects in Australia with a total capacity of 1,500 MW within the next five years.
New Delhi: Adani Enterprises on November 19 announced that it proposes to commence construction of two major solar projects in Australia next year, each with an output of 100-200 MW.
"The largest generator of solar energy in India, the Adani Group has taken its first steps towards replicating that ranking in Australia," Adani Enterprises said in a filing to BSE.
Land agreements are in place for the projects in South Australia and Queensland, and Adani has commenced the design and tendering phases for both projects, it said. Adani aims to develop renewable energy projects in Australia with a total capacity of 1,500 MW within the next five years.
Adani has constructed approximately 793 MW of solar plant in India till date, including one of the world's largest solar plants in Tamil Nadu which has a capacity of 648 MW.
Adani has a pipeline of a further 1,225 MW in construction or late development phase in India. Generation of solar energy is part of Adani's global strategic balanced approach to power generation with its fleet of coal-fired, solar and wind plants supporting the energy policies of the nations in which Adani operates.
The Australian solar projects are in addition to Adani's USD 16.5 billion investment in the planned Carmichael coal mine in Queensland's Galilee Basin a well as rail and port facilities.
The company's head of Australian operations, Jeyakumar Janakaraj, said that these projects will offer a solid foundation to Adani's renewable energy business in Australia and will contribute to meeting Australia's renewable energy target commitments.
"Coupled with the company's $3.3 billion dollars of investment to date across its mine, rail and port projects in Queensland, Adani's plans to pursue solar investment opportunities reflect the confidence the company has in the Australian market," Janakaraj said.
"This reflects both Adani's commitment as a diversified energy and infrastructure company in India and a leading solar generator in that market, and the company's plans to build a long-term future with Australia."