Adani group has won a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a rate of ₹4.08 per unit.
Adani group has won this bid, which is nearly ₹1 lower than the current procurement cost of electricity in the state, by beating companies like JSW Energy and Torrent Power.
Adani group will sign a long-term Power Purchase Agreement (PPA) with MSEDCL to supply 5,000 MW of solar energy from Adani Green Energy’s Khavda Renewable Energy Park in Gujarat and 1,496 MW of thermal power from a new ultra-supercritical plant being developed by Adani Power. The power supply is set to begin within four years, after the final award of the letter of intent.
As per the terms of the tender, Adani power will supply solar power at a fixed cost of ₹2.70 per unit throughout the entire supply period of 25 years, while that from coal will be indexed to coal prices.
MSEDCL in March, floated a unique tender for sourcing 5,000 MW of electricity generated from sunlight and 1,600 MW of power generated from coal.
That tender was floated just ahead of the model code of conduct for the Lok Sabha elections was set in place, and it was awarded to Adani before the announcement of the assembly elections in the state.
Sagar Adani, executive director, Adani Green Energy, said, “We are glad to collaborate with MSEDCL to meet the states’ rising energy demand through renewable sources and fulfill its commitments. Our goal is to accelerate India’s clean energy transition.
This is a crucial step towards the country’s energy independence and building a sustainable future. Adani Green is well positioned to achieve the 50 GW target with secured resource rich sites in strategic locations, portfolio mix of renewables and storage solutions, robust supply chain and clear evacuation plans.”
While Anil Sardana, Managing Director, Adani Power, said that as India advances in achieving its economic growth targets while maintaining a keen focus on sustainability, the role of conventional power in helping stabilise the grid and supplying base load power assumes greater importance.
“Adani Power is proud to partner a leading industrialised state like Maharashtra by becoming one of its key suppliers of reliable and competitive power from its existing and upcoming capacities, while enabling it to integrate an ever-increasing quantum of renewable energy in its grid.”