Adani Green Energy awarded 5 GW of solar supply in Maharashtra

India’s Adani Green Energy Ltd (BOM:541450) is poised to sign a power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 5 GW of solar power.

The capacity was secured through a competitive bidding process carried out by the Maharashtra government’s entity for the procurement of a combined 1.6 GW of thermal and 5 GW of solar power.

The solar PPA is at a flat tariff of INR 2.70 (USD 0.032/EUR 0.029) per kWh for a period of 25 years, Adani Green Energy explained in a stock exchange announcement on Sunday. The solar projects will be developed over three years from signing the PPAs with MSEDCL.

Adani Power Ltd (BOM:533096) bid for the thermal component along with 5 GW of solar capacity on behalf of Adani Green Energy. The thermal capacity has been awarded to Adani Power on a design, build, finance, own and operate basis.

“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,” commented Adani Power managing director Anil Sardana.

(INR 100.0 = USD 1.192/EUR 1.075)

Choose your newsletter by Renewables Now. Join for free!