Gautam Adani will provide cheap electricity in Maharashtra, one of the largest states in the country. That too for the entire 25 years. Adani Group won the tender to supply 6,600 MW of renewable energy and thermal power to Maharashtra on a long-term basis. The company offered Rs 4.08 lakh per unit for this and left JSW Energy and Torrent Power behind. Let us also tell you what kind of information has come to light in the case.
Tender received for 25 years
Two sources with knowledge of the matter said the Adani Group’s offer for supply of renewable energy and thermal power for 25 years is one rupee less per unit than the rate at which Maharashtra is currently purchasing electricity. This will help the state meet its future electricity needs. The supply of electricity will begin within 48 months from the date of issuance of the Letter of Intent (LOI). Under the terms of the offer, Adani Power will supply solar power at the rate of Rs 2.70 per unit for the entire supply period. The price of electricity produced from coal will be determined (indexed) on the basis of coal prices.
The state government had launched the tender.
The Maharashtra State Electricity Distribution Company (MSEDCL) had floated a specific tender in March for procuring 5,000 MW of solar-generated power and 1,600 MW of coal-generated power. It was issued just before the implementation of the Model Code of Conduct for the Lok Sabha elections and was handed over to Adani before the announcement of assembly elections in the state. This tender includes supply of both solar and thermal power to meet the demand for electricity during peak hours.
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Cheaper electricity than other companies.
According to sources, Adani Power offered Rs 4.08 per unit to win the contract. The second lowest bid was by JSW Energy at Rs 4.36 per unit. This is less than the average price of electricity purchased in Maharashtra last year at Rs 4.70 per unit. The 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 a rupee per unit less than this. In all, four companies participated in the bidding to supply electricity for 25 years.
The largest electric company in the country.
Adani Power, the country’s largest private sector thermal power producer, has a generation capacity of over 17 GW, which will increase to 31 GW by 2030. Its subsidiary, Adani Green Energy Limited, is the largest renewable energy company in the country with a generation capacity of 11 GW. The target is to increase this to 50 gigawatts by 2030.
