Adani Group has won the bid to supply 6600 MW of renewable energy and thermal power to Maharashtra on a long term basis. The company bid Rs 4.08 per unit for this and left behind JSW Energy and Torrent Power.
According to media reports, Adani Group's bid for supplying both renewable and thermal energy for 25 years is Rs 1 per unit less than the rate at which Maharashtra is currently purchasing electricity. This will help the state meet its future power needs.
Electricity supply is to start in 48 months The supply of electricity is to start in 48 months from the date of issuance of Letter of Intent (LoI). As per the bidding conditions, Adani Power will supply solar power at the rate of Rs 2.70 per unit during the entire supply period. The price of coal-based electricity will be indexed on the basis of coal prices.
Maharashtra State Electricity Distribution Company Limited (MSEDCL) had issued a unique tender in March for procurement of 5000 MW power generated from sunlight and 1600 MW power generated from coal.
It was issued just before the Model Code of Conduct for the Lok Sabha elections came into force and was awarded to the Adani Group before the announcement of assembly elections in the state. The tender includes the supply of both solar power and thermal electricity to meet the power demand during peak hours.
Adani Power had bid Rs 4.08 per unit to win the contract.
Adani Power bid at Rs 4.08 per unit According to sources, Adani Power bid Rs 4.08 per unit to win the contract. The second lowest bid was Rs 4.36 per unit by JSW Energy. This is lower than the average power price of Rs 4.70 per unit purchased in Maharashtra last year.
Average power purchase price for 2024-25 is Rs 4.97 per unit The Maharashtra Electricity Regulatory Commission (MERC) has fixed the average price of power purchase for 2024-25 at Rs 4.97 per unit. Thus, 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 thermal power producer in the private sector, has a production capacity of over 17 GW, which will increase to 31 GW by 2030. Its subsidiary Adani Green Energy Limited is the country's largest renewable energy company with a production capacity of 11 GW. The target is to increase it to 50 GW by 2030.
Graphics Source: VaskarAssets
