Gautam Adani's companies have received Letter of Intent (LOI) for the supply of 6600 MW of hybrid solar and thermal power from MSEDCL
The solar capacity has been allocated at a flat tariff of Rs 2.70 per kWh for the supply of power for 25 years.
The Maharashtra State Electricity Distribution Company Limited (MSEDCL)has issued a Letter of Intent (LOI) to Adani Power Limited and Adani Green Energy Limited for the supply of 6600 MW of hybrid solar and thermal power. This significant development marks a major milestone in the state's renewable energy initiatives.
Adani Green Energy Limited, India's largest renewable energy company, will supply 5 GW (5000 MW) of solar power from the world's largest renewable energy park being developed at Khavda in Kutch District of Gujarat. Adani Power Limited, India's largest private thermal power producer, will supply 1496 MW (net) thermal power to Maharashtra state from a new 1600 MW Ultra-supercritical thermal power project.
The solar capacity award of 5 GW is the world's largest such award since 2020, reinforcing Adani Green Energy Limited'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.
The solar capacity has been allocated at a flat tariff of Rs 2.70 per kWh for the supply of power for 25 years. The solar projects are expected to be connected to the Interstate Transmission System and shall be developed in a staggered manner over three years from execution of the Power Purchase Agreements (PPAs) with MSEDCL.
The thermal capacity has been awarded to Adani Power Limited on a Design, Build, Finance, Own and Operate (DBFOO) basis with the sourcing of fuel from coal linkages allocated under Para B (iv) of the SHAKTI Policy. Under the terms of the Award, Adani Power Limited will enter into a 25-year Power Supply Agreement (PSA) with MSEDCL for supply of 1496 MW of electricity (net of auxiliary consumption) on a long-term basis from a new thermal power plant having installed capacity of 1600 MW (2x800 MW) to be set up utilizing Ultra-Supercritical technology. Power supply under the proposed PSA will commence three and a half years after the Appointed Date as defined thereunder in the case of Unit 1 (800 MW) and four years in the case of Unit 2 (800 MW).
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About Adani Green Energy Limited
Adani Green Energy Limited (AGEL) is India’s largest and one of the leading renewable energy companies in the world enabling the clean energy transition. AGEL develops, owns, and operates utility-scale grid-connected solar, wind, hybrid and hydro-pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals. AGEL is focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling large-scale adoption of affordable clean energy. AGEL’s operating portfolio is certified ‘water positive for plants of more than 200 MW capacity’, ‘single-use plastic free’ and ‘zero waste-to-landfill’, a testament to the company’s commitment to powering sustainable growth.
About Adani Power Limited
Adani Power Limited (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company operates an installed thermal power capacity of 17,010 MW spread across ten power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat. With the help of a world-class team of experts in every field of power, Adani Power is on course to achieve its growth potential. The company is harnessing technology and innovation to transform India into a power-surplus nation and provide quality and affordable electricity for all.
Disclaimer: The article is for informational purposes only and not investment advice.
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