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Adani Green Energy Ltd (AGEL) and Adani Power Ltd (APL) have won the bid to supply 6,600 MW of hybrid solar and thermal power to Maharashtra, it was announced on Sunday. 

Adani Green will sign a long-term power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply of 5,000 MW (5GW) solar power to the state.

The solar power supply will come from the world’s largest renewable energy park being developed at Khavda in Kutch, Gujarat, as per the Letter of Intent (LOI) awarded to Adani Power.

Also, Adani Power will sign a long-term power supply agreement (PSA) with MSEDCL for the supply of 1,496 MW (net) thermal power to Maharashtra from a new 1,600 MW ultra-supercritical thermal power project.

The total of 6,600 MW capacity has been secured through a competitive bidding process, initiated by the MSEDCL for procurement of combined 1,600 MW thermal and 5,000 MW solar power.

"We are glad to collaborate with the MSEDCL to meet the states’ rising energy demand through renewable sources and fulfil its RE commitments. Our goal is to accelerate India’s clean energy transition. This is a crucial step towards the country’s energy independence and building a sustainable future," said Sagar Adani, Executive Director, Adani Green Energy.

He further said that Adani Green is well positioned to achieve the 50 GW target with secured resource-rich sites in strategic locations, a portfolio mix of renewables and storage solutions, a robust supply chain, and clear evacuation plans.

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 renewable energy (RE) portfolios globally.

Similarly, the thermal capacity award is the largest in the country in recent years to the private sector.

The solar capacity has been allocated at a flat tariff of Rs 2.70 per kWh for the supply of power for a period of 25 years.

The solar projects would be developed in a staggered manner over a period of three years from execution of the PPAs with MSEDCL, said the company. The thermal capacity has been awarded on the design, build, finance, own, and operate (DBFOO) basis with the sourcing of fuel from coal linkages allocated under the ‘SHAKTI Policy’.

Under the terms, APL will enter into a 25-year PSA with MSEDCL for the supply of 1,496 MW of electricity on a long-term basis from a new thermal power plant having an installed capacity of 1,600 MW.

Anil Sardana, Managing Director, Adani Power, said that as India advances in achieving its economic growth targets while maintaining a keen focus on sustainability, the role of conventional power in helping stabilise the grid and supplying base load power assumes greater importance.

"Adani Power is proud to partner a leading industrialised state like Maharashtra by becoming one of its key suppliers of reliable and competitive power from its existing and upcoming capacities, while enabling it to integrate an ever-increasing quantum of renewable energy in its grid," said Sardana.

Adani Power operates an installed thermal power capacity of 17,010 MW spread across 10 power plants.