Mumbai: Adani Group has won a significant contract to supply 6,600 MW of bundled renewable and thermal power to Maharashtra on a long-term basis. Adani Green Energy Limited (AGEL) will provide 5,000 MW of solar power from its upcoming solar park in Gujarat, while Adani Power Limited (APL) will contribute 1,600 MW of thermal power from a new project.
Maharashtra State Electricity Distribution Company (MSEDCL) has issued Letters of Intent for this purchase, and the two Adani companies are set to sign long-term Power Supply Agreements with MSEDCL shortly. Adani Group offered a competitive rate of ₹4.08 per unit, which is about Re 1 per unit lower than the Maharashtra Electricity Regulatory Commission-approved average power purchase cost of ₹4.97 per kWh for 2024-25. This bid surpassed competitors like JSW Energy and Torrent Power. In March, MSEDCL had issued a unique tender for 5,000 MW of solar power and 1,600 MW of coal-based thermal power. The tender required bidders to quote a unified tariff for both types of power, balancing the needs for peak electricity demands and power supply during non-solar hours and seasons.
The contract is for a 25-year term. Adani Power will provide solar power at a fixed rate of ₹2.70 per unit for the entire period, while the coal-based power tariff will be indexed to coal prices. AGEL will sign a Power Purchase Agreement with MSEDCL for the 5,000 MW of solar power, sourced from the world’s largest renewable energy park being developed in Gujarat’s Kutch District. The 1,600 MW thermal power will be supplied from a new Ultra-Supercritical thermal power project by Adani Power, which will have an installed capacity of 1,600 MW and will supply 1,496 MW net to MSEDCL.
The solar projects are expected to connect to the Inter State Transmission System and will be developed over three years from the PPA execution. This procurement will significantly contribute to meeting Maharashtra's Renewable Purchase Obligation (RPO) requirement, which mandates 32% of power demand be met from solar sources by 2028.
Sagar Adani, Executive Director of Adani Green Energy, expressed enthusiasm about the collaboration, highlighting its importance for India’s clean energy transition. Anil Sardana, Managing Director of Adani Power, emphasized the role of conventional power in stabilizing the grid and supporting Maharashtra's economic growth while integrating renewable energy.
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