Adani Green Energy Limited (AGEL), an Indian renewable energy company, secured a contract to supply Maharashtra with 5 (gigawatts) GW of solar power.
Based on a Letter of Intent (LOI), the company will sign a long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL).
The largest renewable energy park in the world, now under construction in Khavda, Gujarat, will supply the solar electricity.
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Mr Sagar Adani, the executive director of Adani Green Energy, said, “We are glad to collaborate with MSEDCL to meet the states’ rising energy demand through renewable sources and fulfill its RE commitments. Our goal is to accelerate India’s clean energy transition.
He added, “This is a crucial step towards the country’s energy independence and building a sustainable future. Adani Green is well positioned to achieve the 50 GW target with secured resource-rich sites in a strategic location, a portfolio mix of renewables and storage solutions, a robust supply chains and clear evacuation plans.”
Adani Power Limited (APL) would supply MSEDCL with 1496 MW of thermal power from a new ultra-supercritical thermal power plant in addition to the solar contract.
Both agreements were obtained through a competitive bidding procedure that MSEDCL initiated to provide a mix of solar and thermal energy to meet Maharashtra’s growing energy needs.
This initiative helps Maharashtra meet its targets for lowering carbon emissions and increasing its capacity for renewable energy.
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The 5 GW solar award solidifies AGEL’s position in the global renewable energy market and is the largest solar capacity contract in history since 2020.
The projects will be connected to the Inter-State Transmission System and developed over a three-year period.
The solar energy will be supplied at a fixed tariff of INR 2.70 per kWh for 25 years.