In its press release, the companies noted that the 5 GW solar capacity award is the world’s largest since 2020, bolstering AGEL’s leadership in India | (Photo: Shutterstock)
Adani Group entities Adani Green Energy (AGEL) and Adani Power announced on Sunday that they will sign a power purchase agreement to supply a combined 6.6 gigawatts (GW) to the Maharashtra state discom.
In the announcement, the companies stated that Adani Green Energy will sign a long-term power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Letter of Intent (LOI) for the supply of 5 GW (5,000 MW) of solar power. Additionally, Adani Power will sign a long-term power supply agreement (PSA) with MSEDCL for the supply of 1,496 MW (net) of thermal power to the state.
AGEL said its PPA for 5 GW is in accordance with the LOI awarded to Adani Power as permitted under the tender conditions. The solar capacity has been allocated at a flat tariff of Rs 2.70 per kWh for a period of 25 years. The solar projects are to be developed in a staggered manner over three years from the execution of the PPAs.
AGEL intends to supply this power from its renewable energy park being developed at Khavda in the Kutch district of Gujarat. Adani Power will supply thermal power to Maharashtra from a new 1,600 MW ultra-supercritical thermal power project. The thermal capacity has been awarded on a Design, Build, Finance, Own and Operate (DBFOO) basis, with fuel sourced from coal linkages allocated under Para B (iv) of the SHAKTI Policy, the company said. Adani Power will enter into a 25-year power supply agreement (PSA) with MSEDCL, with the supply commencing three and a half years after the appointed date.
In its press release, the companies noted that the 5 GW solar capacity award is the world’s largest since 2020, bolstering AGEL’s leadership in India and as one of the largest renewable energy portfolios globally. Similarly, the thermal capacity award is the largest in India in recent years to be awarded to the private sector.
First Published: Sep 15 2024 | 2:58 PM IST
