Maharashtra State Electricity Issues Letter of Intent to Adani for 6600 MW Hybrid Solar & Thermal Power Supply The company will supply solar energy to Maharashtra at a fixed tariff of INR 2.70 per kWh for 25 years. The thermal power supply, on the other hand, will commence in stages, with Unit 1 (800 MW) starting in three and a half years and Unit 2 (800 MW) beginning after four years

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has issued a Letter of Intent (LOI) to Adani Green Energy Limited (AGEL) and Adani Power Limited (APL) for the supply of 6600 MW of hybrid solar and thermal power. This marks the largest-ever solar power capacity awarded globally since 2020. Under the LOI, AGEL will supply 5000 MW of solar power from its Khavda renewable energy park in Gujarat, the world's largest renewable energy facility. Meanwhile, APL will deliver 1496 MW (net) of thermal power from a new 1600 MW ultra-supercritical power project. The thermal power plant will operate under a design, build, finance, own and operate (DBFOO) model, with coal sourced through India's SHAKTI policy.

This is the result of a competitive bidding process initiated by MSEDCL to procure both thermal and solar energy. AGEL and APL leveraged their strengths in their respective fields, allowing the Adani Group to win the tender for both energy sources. The contracts will be executed under separate agreements with MSEDCL, as per a regulatory filing.

Sagar Adani, executive director, 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. 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 strategic locations, portfolio mix of renewables and storage solutions, robust supply chain and clear evacuation plans."

Adani Green's solar project, which is part of the Khavda renewable energy park, is expected to be completed in phases over the next three years. The company will supply solar energy to Maharashtra at a fixed tariff of INR 2.70 per kWh for 25 years. The thermal power supply, on the other hand, will commence in stages, with Unit 1 (800 MW) starting in three and a half years and Unit 2 (800 MW) beginning after four years.

Anil Sardana, managing director, Adani Power, said "As India advances in achieving its economic growth targets while maintaining a keen focus on sustainability, the role of conventional power in helping stabilize the grid and supplying base load power assumes greater importance. Adani Power is proud to partner a leading industrialized state like Maharashtra by becoming one of its key suppliers of reliable and competitive power from its existing and upcoming capacities, while enabling it to integrate an ever-increasing quantum of renewable energy in its grid."

This underscores AGEL's growing leadership in renewable energy, following its record-breaking green power deal in 2020. The project will further enhance Maharashtra's renewable energy mix, which already includes significant contributions from AGEL's wind-solar hybrid facilities powering Mumbai. The 6600 MW capacity will play a crucial role in supporting India's renewable energy goals.