Adani Green wins bids for 300MWac solar projects

The projects -- one for 250MWac and the second for 50MWac -- have an expected deadline of FY20 and FY21, respectively.

Jul 12, 2018 02:07 IST India Infoline News Service

Adani Green Energy
Adani Green Energy Ltd (AGEL), through its wholly-owned subsidiary Mahoba Solar (UP) Pvt Ltd has won tenders for setting up 300MWac solar generation projects.

In a filing to the exchanges on Thursday evening, AGEL said, “In the tender floated by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), it won 250MWac solar generation projects to be set up in UP and supply power to Uttar Pradesh Power Corporation Ltd. The fixed PPA tariff is Rs3.48/kWh for a period of 25 years. The project is expected to be commissioned by Q3FY20."

Separately, the company has also won a tender for a 50MWac solar generation project to be set up anywhere in India and connected through Inter-State Transmission System (ISTS). “Solar Energy Corporation of India (SECI), who shall also be the PPA counterparty, floated the tender. The fixed PPA tariff is Rs2.54/kWh for a period of 25 years. The project is expected to be commissioned by Q2FY21,” the statement further added.

With these tender wins, AGEL now has a portfolio of renewable generation capacity of 3.45GWac with 1.96GWac operational projects and balance 1.49GWac in development stage.

Adani Green Energy Ltd ended the day at Rs31.15, down Rs1.05, or 3.26%, from its previous close of Rs32.20 on the BSE. The scrip opened at Rs32.05 and touched a high and low of Rs32.80 and Rs30.95, respectively. A total of 6,72,076 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4,871.90cr.

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