In their press release, the companies noted that the 5 GW solar capacity award is the largest in the world since 2020, reinforcing AGEL’s leadership in India | (Photo: Shutterstock)
Adani Group entities Adani Green Energy (AGEL) and Adani Power on Sunday announced that they will sign a power purchase agreement to supply a combined total of 6.6 gigawatts (GW) to the Maharashtra state distribution utility.
In the announcement, the companies said 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 supply of 5 GW (5,000 MW) of solar power. In addition, Adani Power will sign a long-term power supply agreement (PSA) with MSEDCL for supply of 1,496 MW (net) of thermal power to the state.
AGEL said its PPA for 5 GW is in line with the LOI granted to Adani Power, as permitted under the tender conditions. The solar capacity has been allocated at a fixed tariff of Rs 2.70 per kWh for a period of 25 years. The solar projects will be developed in a phased 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 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 paragraph B (iv) of the SHAKTI Policy, the company said. Adani Power will enter into a 25-year power supply agreement (PSA) with MSEDCL, with supply commencing three and a half years from the date set out.
In their press release, the companies noted that the 5 GW solar capacity award is the largest in the world since 2020, reinforcing AGEL’s leadership in India and as one of the largest renewable energy portfolios in the world. Similarly, the thermal capacity award is the largest in India in recent years to be awarded to the private sector.
First published: September 15, 2024 | 14:58 IS
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