World's largest solar deal since 2020! Adani Group beats JSW, Torrent for electricity supply to THIS state

In a major win, Adani Group has emerged as the successful bidder to supply 6,600 MW of bundled renewable and thermal power to Maharashtra for the long term, beating JSW Power and Torrent Power. Maharashtra state DISCOM issued letter of intent for supply 6600 MW hybrid solar and thermal power by Adani Green and Adani Power as informed to the exchanges.

"The 6600 MW capacity has been secured through a competitive bidding process initiated by MSEDCL for procurement of combined 1600 MW thermal and 5000 MW solar power. The terms of the tender permit APL to bid for thermal power capacity along with solar power capacity, which can be supplied by a group company," the Adani Group said in a filing.

The group informed that the solar capacity award of 5 GW is the world's largest such award since 2020. The solar capacity has been allocated at a flat tariff of INR 2.70 per kWh for supply of power for a period of 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 to APL (Adani Power Limited) on Design, Build, Finance Own and Operate (DBFOO) basis with sourcing of fuel from coal linkages allocated under Para B (iv) of the SHAKTI Policy. Under the terms of the Award, APL will enter into a 25-year Power Supply Agreement (PSA) with MSEDCL for supply of 1496 MW of electricity (net of auxiliary consumption) on long term basis from a new thermal power plant having installed capacity of 1600 MW (2x800 MW) to be set up utilizing UltraSupercritical technology.

Power supply under the proposed PSA will commence three and a half years after the Appointed Date as defined thereunder in case of Unit 1 (800 MW) and four years in case of Unit 2 (800 MW).

About Adani Green and Adani Power

AGEL (Adani Green Energy Limited) 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. Adani Power 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.