In a significant move for industrial decarbonization, Adani Green Energy Limited (AGEL) has entered into a definitive agreement with Asahi India Glass Limited (AIS).
The deal marks a pivotal expansion of captive renewable energy in India, where private enterprises are increasingly bypassing traditional grids to secure stable, green power. Under the terms of the power consumption agreement (PCA), AGEL will supply 20.8 MW of solar-wind hybrid power specifically to meet the energy demands of Asahi’s manufacturing operations.
This hybrid approach—combining solar and wind—is designed to tackle the intermittency of renewable energy, providing a more consistent power profile compared to standalone solar or wind projects.
The Khavda renewable hub:
The energy will be generated from AGEL’s renewable energy cluster in Khavda, Gujarat. The project infrastructure comprises two dedicated units: a 25 MW solar plant and a 20.8 MW wind unit. Khavda is currently home to some of the world’s most ambitious renewable energy developments, leveraging Gujarat’s high wind speeds and optimal solar irradiation.
The integration of these two energy sources ensures that Asahi India Glass benefits from round-the-clock (RTC) tendencies, where wind power often peaks during hours when solar generation is low, and vice versa.
Captive investment and governance:
Beyond a simple supply contract, the deal includes a sophisticated investment agreement. To comply with India’s captive power rules, Asahi India Glass will subscribe to at least 26% of the proportionate equity share capital in the project vehicle, Adani Green Energy Twenty Five B Limited.
According to the regulatory filings, while Asahi will hold a 1.22% equity stake with voting rights in the final phase, Adani Renewable Energy Holding Four Limited (AREH4L) will retain 98.78% ownership and the right to appoint all directors to the board.
