Adani ranked world's largest solar power generation asset owner

New Delhi: Adani Green Energy Ltd (AGEL) on Monday said Mercom Capital has ranked it as the world's largest solar power generation asset owner in terms of operating, under-construction and awarded projects.

AGEL's under-construction and awarded capacity stands at 10.1 GW, while its operational capacity is nearly 3 GW.

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 tonnes of carbon dioxide over the life of its assets, the company said in a statement.

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, it said.

Adani Group Chairman Gautam Adani 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 recognize that there is a lot more that remains for us to do as the world transitions into an increasingly decarbonized energy landscape."

AGEL targets to achieve an installed generation capacity of 25 GW by 2025. The Adani Group is an integrated industrial conglomerate operating globally with six publicly traded companies with total revenues of $15 billion and a market capitalisation of $30 billion.