Adani Power has secured a long-term contract to supply 6,600 MW of combined renewable and thermal electricity to Maharashtra after submitting a winning bid of Rs 4.08 per unit. This bid, which beat out competitors such as JSW Energy and Torrent Power, is almost a rupee lower than Maharashtra’s current electricity procurement cost, making it a more economical option for the state.
Adani Power will supply 5,000 MW of solar energy at a fixed rate of Rs 2.70 per unit over 25 years, while electricity from coal will be indexed to coal prices. The supply is expected to begin within 48 months, following the award of the letter of intent.
The Maharashtra State Electricity Distribution Company (MSEDCL) issued a tender in March for the procurement of 5,000 MW of solar power and 1,600 MW of coal-generated power. The aim was to combine renewable and thermal energy to meet peak demand during non-solar hours. Adani Power’s bid of Rs 4.08 per unit was lower than JSW Energy’s Rs 4.36 per unit and Maharashtra’s average electricity cost of Rs 4.70 per unit last year.
The bundled procurement aims to address Maharashtra’s growing electricity demands, projected to reach 35,573 MW by 2028-29 and 39,884 MW by 2032-33. With this contract, the state will move closer to its goal of sourcing 32% of its power from renewable sources by 2028, up from the current 12%. Adani Power’s capacity is set to increase to 31 GW by 2030, while its sister company, Adani Green Energy Ltd, aims to expand its renewable energy generation to 50 GW by 2030.
