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Adani Group has won the bid to supply 6,600 MW of renewable energy and thermal power to Maharashtra for the long term. The company bid Rs 4.08 per unit for this and left behind JSW Energy and Torrent Power. Sources have given this information. Two sources familiar with the matter said that Adani Group’s bid to supply both renewable and thermal power for 25 years is Rs 1 per unit less than the rate at which Maharashtra is currently purchasing electricity. This will help the state to meet future power needs.
When will the supply be made?
The supply of electricity is to start 48 months from the date of issuance of the letter of intent (LOI). As per the bidding conditions, Adani Power will supply solar electricity at the rate of Rs 2.70 per unit during the entire supply period. At the same time, the price of electricity produced from coal will be determined (indexed) based on coal prices. Maharashtra State Electricity Distribution Company (MSEDCL) issued a specific tender in March for the purchase of 5,000 MW of electricity generated from sunlight and 1,600 MW of electricity generated from coal. It was issued just before the model code of conduct for the Lok Sabha elections came into force and it was given to Adani before the announcement of assembly elections in the state.
At what rate was the bidding done
This tender includes the supply of both solar energy and thermal power to meet the electricity demand during peak hours. According to sources, Adani Power bid Rs 4.08 per unit to win the contract. At the same time, the second lowest bid was Rs 4.36 per unit by JSW Energy. This is less than the average power purchase price of Rs 4.70 per unit in Maharashtra last year. The Maharashtra Electricity Regulatory Commission (MERC) has fixed the average price of power purchase for 2024-25 at Rs 4.97 per unit. In this way, the bid placed by Adani is about one rupee per unit less than this. In total, four companies participated in the tender for power supply for 25 years. Adani Power, the country’s largest private-sector thermal power producer, has a generation capacity of more than 17 gigawatts, which will increase to 31 gigawatts by 2030. Its subsidiary, Adani Green Energy Limited, is the country’s largest renewable energy company with a generation capacity of 11 GW. It aims to increase this to 50 GW by 2030.
