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Adani Power has received a letter of intent (LoI) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply 6600 MW solar and thermal power for 25 years. Of this, 5GW solar power will be supplied by Adani Green Energy and Adani Power will supply 1496 MW thermal power, with both companies signing separate power purchase agreements, a statement from the Adani Group said.
Adani Green will be supplying solar power to Maharashtra from Khavda in Gujarat where it is building a large renewable energy park.
Adani Power will supply power from its new 1600 MW ultra-supercritical thermal power project.
The 6600 MW capacity order was secured by Adani Power through a competitive bidding process initiated by MSEDCL for procurement of combined 1600 MW thermal and 5000 MW solar power. The tender terms allowed Adani Power bid for both thermal power and solar power capacities, to be supplied by a group company. It, accordingly, also bid for 5000 MW solar capacity on behalf of Adani Green, thereby leveraging the two entities’ respective competitive advantages and strengths in the thermal and solar power sectors.
The solar capacity has been allocated at a flat tariff of ₹2.70 per kWh for supply of power for 25 years. The solar projects are expected to be connected to Inter State Transmission System and shall be developed in a staggered manner over a period of three years from execution of the PPAs with MSEDCL.
The thermal capacity has been awarded on design, build, finance, own and operate (DBFOO) basis with sourcing of fuel from coal linkages allocated under the SHAKTI Policy. Adani Power will enter into a 25-year power supply agreement with MSEDCL for supply of 1496 MW of electricity (net)on long term basis. Power supply under the proposed PSA will commence three and a half years after the appointed date in case of Unit 1 (800 MW) and four years in case of Unit 2 (800 MW).
Adani Green said the 5GW power supply order was the world’s largest such order since 2020. It has been contributing to Maharashtra’s renewable energy needs and its wind-solar hybrid cluster in Jaisalmer began powering Mumbai with green energy in March 2023, with the share of renewable energy in the Mumbai distribution circle’s energy mix standing at 37 per cent as of June 2024.
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