LONGi, the world’s leading solar technology company and Adani Green Energy, India’s largest photovoltaic power station developer, has entered into a strategic partnership agreement on November 28, 2019 where LONGi will supply Adani Green Energy with its new generation Hi MO4 modules. The agreement set guidance of up to 1.2GW modules to be delivered to Adani by 2020. Both parties agreed to continue to deepen their strategic partnership over the next 3 5 years.
The electric power infrastructure in India is weak and photovoltaic energy has great potential for growth in the next five years. The strategic partnership agreement represents a strong alliance and a “win win” cooperation between the world’s leading energy investment company and the world’s leading solar technology company, and is a milestone in the development of global renewable energy.
The Adani Group is an integrated business conglomerate in India that consists of six publicly traded companies with combined revenues of $13 billion. Its renewable energy subsidiary, Adani Green Energy, is one of the largest renewable companies in India engaged in the development of solar, wind and hydro energy with a current project portfolio of 5,290 MW.
LONGi leads the solar PV industry with product innovations and optimized power cost ratio with breakthrough monocrystalline technologies. LONGi supplies more than 30GW of high efficiency solar wafers and modules worldwide yearly, about a quarter of global market demand. Today, LONGi is recognized as the world’s most valuable solar technology company with the highest market value and a major power generation equipment supplier in the global solar energy field.
At the signing ceremony, Jayant Parimal, CEO of Adani Green Energy, said: “LONGi is a trusted partner with a leading position in product technology and financial health. LONGi’s high efficiency and reliable PV module products will help Adani deliver greater value to our customers and bring superior clean energy to India and the world.”
“We are very grateful to Adani for their trust and support. LONGi will seek to deepen our cooperation globally and mutually continue to improve the level of the strategic partnership.” said Dennis She, Senior Vice President of LONGi Solar. “As a driver in the global energy transformation, LONGi will continue to leverage its leading technologies and work with Adani to build best in class solar projects in India and the world, and to promote the rapid development of global renewable energy.”LONGi hopes to bring high quality and affordable clean electricity to India with its innovative photovoltaic products and technologies. LONGi and Adani will jointly promote the transformation of renewable energy and the structure of clean energy in India based on both companies’ common philosophies and missions in energy transition.