Adani Greens subsidiary gets allotment of 700 MW project

Ahmedabad-based renewable energy resources player, Adani Green Energy Ltd, in its press note to the stock exchanges said that its wholly-owned subsidiary has received 700 MW wind solar energy hybrid power project.

Rosepetal Solar Energy Pvt Ltd (RSEPL) is a wholly-owned subsidiary of Adani Green Energy. The subsidiary company had participated in a tender issued by Adani Electricity Mumbai Limited (AEML) for procurement of 350 MW grid connected wind-solar hybrid power project. The tender also had additional offer under ‘greenshoe option’ of an additional 350 MW hybrid power project capacity.

In further developments under the stated tender, AEML has received an approval for the award of this 700 Megawatt (MW) solar wind hybrid capacity from Maharashtra Electricity Regulatory Commission (MERC). Hence, AEML has been allotted RSEPL 700 MW wind-solar hybrid power project under the tender.

In addition to this, the company also mentioned that fixed Power Purchase Agreement (PPA) tariff for 700 MW wind-solar hybrid power project is Rs 3.241 Kilowatt hour (kWh) for a period of 25 years with minimum Capacity Utilisation Factor (CUF) requirements of 50 per cent. The power project is expected to be commissioned by Q2FY22.

At 12.00 pm, the stocks traded at Rs 189.40, down by 0.73 per cent on BSE.