Adani Group wins big bid, will supply 6,600 MW electricity to Maharashtra, know details

Adani Group has won the bid to supply 6,600 MW of renewable energy and thermal power to Maharashtra for long term. The company bid Rs 4.08 per unit for this and left JSW Energy and Torrent Power behind. Sources have given this information. Adani Group’s bid for supply of both renewable and thermal power for 25 years is one rupee less per unit than the rate at which Maharashtra is currently purchasing power, two sources familiar with the matter said. This will help the state meet its future power needs.

When will the supply happen?

Electricity supply is to start within 48 months from the date of issue of Letter of Intent (LOI). As per the bid terms, Adani Power will supply solar power 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) on the basis of coal prices. Maharashtra State Electricity Distribution Company (MSEDCL) in March had floated a specific tender to procure 5,000 MW of power generated from sunlight and 1,600 MW of power generated from coal. It was issued just before the implementation of the Model Code of Conduct for the Lok Sabha elections and has been given to Adani before the announcement of assembly elections in the state.

At what rate was the bid made?

This tender includes supply of both solar power and thermal power to meet the peak power demand. According to sources, Adani Power bid Rs 4.08 per unit to win the contract. Whereas, the second lowest bid was of JSW Energy at Rs 4.36 per unit. This is lower than the average price of electricity purchased in Maharashtra last year at Rs 4.70 per unit. Maharashtra Electricity Regulatory Commission (MERC) has fixed the average power purchase price for 2024-25 at Rs 4.97 per unit. Thus, the bid made by Adani is about one rupee per unit less than this. Altogether four companies participated in the tender to supply electricity for 25 years. Adani Power, the country’s largest private sector thermal power producer, has a production capacity of more than 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 generation capacity of 11 GW. The target is to increase it to 50 GW by 2030.