Adani Group will now create 6,600 MW of renewable energy for the long term in Maharashtra. Adani Group has won the bid for this. Adani Group had placed a bid at the rate of Rs 4.08 per unit in Maharashtra State Electricity Distribution Company Limited (MSEDCL). The company has won this bid.
The Adani Group beat companies such as JSW Energy and Torrent Power to win the bid, which is about Rs 1 less than the current purchase cost of power in the state. The Adani Group will sign a long-term power purchase agreement (PPA) with MSEDCL to supply 5,000 MW solar power from Adani Green Energy’s Khavda Renewable Energy Park in Gujarat and 1,496 MW thermal power from a new ultra-supercritical plant being developed by Adani Power. After the final letter of intent is received, power supply will begin within four years.
As per the terms of the tender, Adani Power will supply solar power at a fixed cost of Rs 2.70 per unit during the entire supply period of 25 years, while power from coal will be priced in line with coal prices. In March, MSEDCL issued a unique tender for supply of 5,000 MW power generated from the sun and 1,600 MW from coal. The tender was issued just before the model code of conduct for the Lok Sabha elections came into force, and was awarded to Adani before assembly elections were announced in the state.
Sagar Adani, Executive Director, Adani Green Energy, said, “We are delighted to collaborate with MSEDCL to meet the states’ growing energy demand through renewable sources and deliver on our commitments. Our goal is to accelerate India’s clean energy transition. This is a significant step towards the country’s energy independence and building a sustainable future. With secure resource-rich sites at strategic locations, a portfolio mix of renewable and storage solutions, strong supply chain and clear exit plans, Adani Green is well positioned to achieve the 50 GW target.”
Anil Sardana, Managing Director, Adani Power, said as India moves towards achieving its economic growth goals with an intense focus on sustainability, the role of conventional power in stabilising the grid and supplying baseload power becomes all the more important. “Adani Power is proud to partner with a leading industrial state like Maharashtra as it leverages its existing and upcoming capacities to become one of the leading suppliers of reliable and competitive power, while also enabling it to integrate an ever-increasing amount of renewable energy into its grid.”
