Adani Group Secures Record-Breaking Power Supply Deal with Maharashtra

Mumbai:In a landmark achievement for India's renewable energy sector, the Adani Group has won the bid to supply a massive 6,600 megawatts (MW) of hybrid solar and thermal power to Maharashtra. The Maharashtra State Electricity Distribution Co. (MSEDCL) announced on Sunday that this deal represents the "world's largest solar capacity award" since 2020.

The highly competitive bid saw Adani Power Ltd. outmaneuvering prominent industry players such as Torrent Power Ltd. and JSW Energy Ltd. Adani Power emerged victorious with a quoted rate of Rs 4.08 per unit, surpassing JSW Energy's bid of Rs 4.36 per unit.

The agreement will see Adani Green Energy Ltd., the renewable energy arm of the Adani Group, supply 5,000 MW of solar power from its expansive renewable energy park in Gujarat’s Kutch region. This power will be delivered to Maharashtra at a flat tariff of Rs 2.70 per kilowatt-hour (kWh) under a long-term power purchase agreement (PPA) extending over 25 years.

In a separate arrangement, Adani Power will provide Maharashtra with 1,496 MW of thermal power from a new 1,600 MW ultra-supercritical thermal power project. This project is slated to commence power supply in phases, starting three and a half years after the appointed date for Unit 1 (800 MW) and four years for Unit 2 (800 MW).

Adani Power’s Managing Director, Anil Sardana, expressed pride in the company’s role in supporting Maharashtra's industrial growth. “We are honored to partner with Maharashtra, becoming one of its key suppliers of reliable and competitive power from both existing and upcoming capacities. This agreement will also aid the state in integrating a substantial volume of renewable energy into its grid,” Sardana stated.

Sagar Adani, Executive Director of Adani Green Energy, highlighted the significance of the deal in advancing sustainable energy goals. “This pact with MSEDCL is a critical milestone towards our vision of a sustainable future. Adani Green is strategically positioned to meet its 50 GW target, thanks to our resource-rich sites, diverse portfolio of renewables and storage solutions, and robust supply chain and evacuation plans,” Adani emphasized.

The deal marks a significant step forward in India’s energy transition, aligning with national goals to increase renewable energy capacity and reduce carbon emissions. It also underscores the growing influence of the Adani Group in shaping the future of energy in the country.