Adani Group Secures 6600 MW Power Supply Contract, Surpasses JSW and Torrent!

Adani Group Secures new milestones in the power sector. Recently, Adani Power and Adani Green Energy have secured the 6600 MW power supply tender issued by the Maharashtra State Electricity Distribution Company (MSEDCL). This is considered the world’s largest solar capacity award. With this victory, the Adani Group has surpassed companies like JSW and Torrent.

Highlights:

• Adani Group secures a 6600 MW power supply tender from MSEDCL.
• Adani Green Energy will supply 5000 MW of solar power.
• Adani Power will supply 1600 MW of thermal power.
• The tender was won by placing a lower bid than JSW Energy.
• The company will supply power for 25 years.

Important Points Table:

Adani Group Secures the World’s Largest Solar Capacity Award

According to BSE filings, Adani Power and Adani Green Energy have secured a contract to supply 6600 MW of power from the Maharashtra State Electricity Distribution Company (MSEDCL). Under this contract, Adani Green Energy will supply 5000 MW of solar power. This is considered the world’s largest award since the Solar Capacity Award of 2020.

Adani Power will supply 1600 MW of ultra-supercritical capacity thermal power. The company placed the most cost-effective bid to secure this contract. Separate agreements have been signed between MSEDCL and the Adani Group for this contract.

Key Points of the Power Supply Contract:

• 6600 MW Power Supply: Adani Green Energy will supply 5000 MW of solar power.
• Thermal Power: Adani Power will supply 1600 MW of thermal power.
• Contract Duration: Power will be supplied for 25 years.

Adani Power Placed the Lowest Bid

Adani Power placed the lowest bid of ₹4.08 per unit to secure the MSEDCL tender, while JSW Energy placed a bid of ₹4.36 per unit.

Also Read: Explosive Surge in Reliance Infra: Anil Ambani’s Share Creates Buzz in the Market, Ready to Raise Funds!

Key Points of the Contract:

• Adani Power’s Bid: ₹4.08 per unit
• JSW Energy’s Bid: ₹4.36 per unit
• Last Year’s Electricity Purchase Price: ₹4.70 per unit
• Price Set for Financial Year 2024-25: ₹4.97 per unit

This bid is even lower than Maharashtra’s average electricity purchase price of ₹4.70 per unit from last year, clearly showing how the Adani Group outperformed its competitors to secure this contract.

Company to Supply Power for 25 Years

Under this power purchase agreement, Adani Green Energy will supply 5000 MW of solar power for the next 25 years. During this period, the rate per kilowatt-hour will be ₹2.70. There is also a possibility of connecting these solar projects to the interstate transmission system.

Key Points:

• Contract Duration: 25 Years
• Solar Power Rate: ₹2.70 per kilowatt-hour
• Development Period: Phased development over 3 years

Adani Green Energy’s Executive Director Sagar Adani mentioned that this collaboration will help meet the growing energy demands of the Maharashtra state. The company’s main goal is to provide clean energy to the country, a significant step toward energy independence.

Also Read: NTPC Stock Target: Big News for NTPC- 18 Analysts Set of ₹450-500!

Future and Prospects of Adani Green Energy

Adani Green Energy has taken significant steps in the field of solar energy. The company aims to maximize the use of renewable energy sources. Under this contract, Adani Green Energy will further expand its portfolio in solar power production.

Future Plans of the Company:

• Production of Clean Energy: Increase in the company’s investment in solar energy.
• Use of Renewable Energy Sources: Maximize the use of renewable energy sources.
• Energy Independence: Significant contribution to the country’s energy independence.

This step by Adani Green Energy is crucial not only for the company but also for the country’s energy sector. It will promote the use of solar energy and increase awareness about renewable energy sources.

Also Read: Explosive Surge in Reliance Infra: Anil Ambani’s Share Creates Buzz in the Market, Ready to Raise Funds!