Adani Group Wins 6,600 MW Renewable and Thermal Power Bid for Maharashtra

16 Sep 2024 , 04:27 PM

Adani Group won a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra. The winning bid was ₹4.08 per unit, beating JSW Energy and Torrent Power. The project involves a 25-year agreement and will begin supplies within 48 months of the letter of intent.

Adani Power will supply 1,496 MW (net) thermal power from its new ultra-supercritical 1,600 MW plant. Adani Green Energy will provide 5,000 MW solar power from Khavda renewable energy park in Gujarat.

Solar power will be supplied at ₹2.70 per unit, while thermal power costs will be indexed to coal prices. Separate Power Purchase Agreements (PPA) will be signed for both solar and thermal power. MSEDCL designed the tender to give equal energy weightage to solar and thermal components.

The bundled procurement aims to meet Maharashtra’s growing electricity demand, projected to reach 39,884 MW by 2031-32. The tender’s objective is to increase the share of renewable energy to 32% of the state’s power by 2028, up from the current 12%.

Adani Power and Adani Green Energy are scaling up capacities, aiming for a combined 50 GW of renewable and thermal power by 2030. Solar power projects will be connected to inter-state transmission systems, developed in stages over three years.

Thermal power will be sourced under India’s SHAKTI Policy, and the plant will use ultra-supercritical technology. The thermal capacity project will be completed within 3.5 to 4 years of the agreement.

Sagar Adani of Adani Green Energy emphasized the role of clean energy in India’s transition to sustainability. Anil Sardana, MD of Adani Power, highlighted the importance of conventional power in grid stability and economic growth.