Adani group has won the bid to supply 6,600 MW of hybrid solar and thermal power in Maharashtra, as per a release issued on Sunday. The order, issued by the Maharashtra State Electricity Distribution Co., is the "world's largest solar capacity award" since 2020, it said.
The company ousted peers likes Torrent Power Ltd. and JSW Energy Ltd. to win the bid, news agency PTI reported, citing sources privy to the development. Adani Power Ltd. quoted Rs 4.08 per unit for the contract, which compares to Rs 4.36 per unit quoted by the second lowest bidder, JSW Energy, the report said.
Adani Green Energy Ltd., which is the conglomerate's renewable energy arm, will sign a long-term power purchase agreement with MSEDCL for the supply of 5 GW (5,000 MW) solar power, according to the release.
The power would be supplied from the renewable energy park being developed in Gujarat's Kutch to the state of Maharashtra at a flat tariff of Rs 2.70 per kWh. The pact has been inked for a period of 25 years.
Separately, Adani Power will enter into a 25-year pact with MSEDCL for the supply of 1,496 MW (net) thermal power to Maharashtra from a new 1,600 MW ultra-supercritical thermal power project, the release added.
"Power supply under the proposed PSA will commence three and a half years after the Appointed Date as defined thereunder in case of Unit 1 (800 MW) and four years in case of Unit 2 (800 MW)," it further said.
"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," said Anil Sardana, the company's managing director.
According to Sagar Adani, the executive director of Adani Green Energy, the pact with MSEDCL is a crucial step towards 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," he added.
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