Gautam Adani is going to provide cheap electricity in Maharashtra, one of the largest states of the country. That too for the entire 25 years. Adani Group has won the bid to supply 6,600 MW of renewable energy and thermal power to Maharashtra on a long-term basis. Company for this per unit Rs. 4.08 and outperformed JSW Energy and Torrent Power. Let us also tell you what kind of information has been revealed in this case.
Tender received for 25 years
Adani Group's bid to supply both renewable energy and thermal power for 25 years is one rupee less per unit than the rate at which Maharashtra currently buys electricity, two sources with knowledge of the matter said. This will help the state meet its future electricity needs. Supply of electricity is to commence within 48 months from the date of issue of Letter of Intent (LOI). As per the terms of the bid, Adani Power will pay per unit during the entire supply period Rs. 2.70 will supply solar power. While the cost of electricity generated from coal will be determined on the basis of coal prices.
The state government released the tender
The Maharashtra State Electricity Distribution Company (MSEDCL) floated a definitive tender in March to procure 5,000 MW of solar-generated power and 1,600 MW of coal-generated power. It was issued before the implementation of the Model Code of Conduct for Lok Sabha Elections and has been given to Adani before the announcement of assembly elections in the state. The tender involves the supply of both solar power and thermal power to meet the electricity demand during peak hours.
Cheap electricity compared to other companies
According to sources, Adani Power to win the contract paid Rs. 4.08 was bid. The second lowest bid was JSW Energy's Rs. 4.36 per unit. This is Rs 4.70 per unit lower than the average price of electricity purchased in Maharashtra last year. The Maharashtra Electricity Regulatory Commission (MERC) has pegged the average power purchase price for 2024-25 at Rs. 4.97 per unit has been fixed. Thus, Adani's bid is lower by about one rupee per unit. A total of four companies participated in the tender to supply electricity for 25 years.
The largest power company in the country
Adani Power, the country's largest private sector thermal power producer, has a generating 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 generating capacity of 11 GW. The target is to increase it to 50 GW by 2030.
