Adani Green, Adani Power to sign 6,600 MW power supply agreement with Maharashtra state discom

Adani Power and Adani Green will sign separate contracts with MSEDCL for their respective supply component as permitted under the tender conditions (representational image)

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Two power companies of the Adani group -  Adani Green Energy Limited (AGEL) and Adani Power Limited (APL), said on September 15 that they have been issued letter of intent by the Maharashtra state DISCOM to supply a total 6,600 MW hybrid solar and thermal power.

AGEL, India's largest renewable energy company, will sign a long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply 5 GW (5,000 MW) solar power from the world’s largest renewable energy park being developed at Khavda in Kutch District of Gujarat, according to a press release.

APL, the country's largest private thermal power producer, will sign a long-term Power Supply Agreement (PSA) with MSEDCL to supply 1,496 MW (net) thermal power to Maharashtra from a new 1600 MW Ultra-supercritical thermal power project, it added.

"The solar capacity award of 5 GW is the world’s largest such award since 2020, bolstering AGEL’s leadership in India and as one of the largest RE portfolio globally. Similarly, the thermal capacity award is the largest in India in recent years to be awarded to the private sector," the press release added.

"Adani Power and Adani Green will sign separate contracts with MSEDCL for their respective supply component as permitted under the tender conditions," according to the release.

According to a PTI report earlier on Sunday, Adani Power quoted Rs 4.08 per unit to win the contract, beating Rs 4.36 per unit quoted by the second lowest bidder, JSW Energy, and Rs 4.70 per unit average procurement cost of Maharashtra last year. The tariff is about Rs 1 per unit lower than the Maharashtra Electricity Regulatory Commission (MERC) approved average power purchase cost of Rs 4.97 per kWh (unit) for 2024-25.

The tender combined solar power with thermal electricity to meet peak energy demand and that during non-solar hours (like night hours or monsoon/winter months), giving equal energy weightage to electricity generated from renewable energy and that from coal, the report noted.

Bidders were asked to quote a unified tariff for the supply of 6,600 MW of electricity (5,000 MW from solar and 1,600 MW from thermal).

This MSEDCL tender was floated just ahead of the model code of conduct for the Lok Sabha elections kicking in, and it was awarded to Adani before the announcement of the assembly elections in the state.