A step-down subsidiary of Gautam Adani-led Adani Green Energy (AGEL), Adani Renewable Energy Three, has commissioned a 50 MW solar–wind hybrid power project in Khavda, Gujarat. The company has decided to commission the plant early morning on August 8, after securing all the necessary clearances. The project will start supplying power from the same day.
With this launch, AGEL’s total operational renewable energy capacity has now reached 15,865.5 MW. The company said this milestone strengthens its position as one of the largest renewable energy players in the country.
Adani Power wins Rs 6.075/unit bid for 2,400 MW thermal power project
In another development on Aug 7, Gautam Adani led-Adani Power has secured a Letter of Intent (LoI) from Bihar State Power Generation Company (BSPGCL) to develop and operate a 2,400 MW greenfield thermal power plant in Pirpainti, Bhagalpur district of Bihar.
The project will supply power to North Bihar Power Distribution Company (NBPDCL) and South Bihar Power Distribution Company (SBPDCL) under the Design, Build, Finance, Own and Operate (DBFOO) model.
Rollout of $3 billion investment in phases
The company emerged as the lowest bidder in a competitive tender process with a tariff of Rs 6.075 per unit. The entire net capacity of 2,274 MW will be supplied to the Bihar utilities.
The project, worth around $3 billion, will be executed in three phases. The first unit will be commissioned within 48 months of the appointed date, the second in 54 months, and the final unit in 60 months.
Ultra-supercritical technology for efficiency
The new plant will operate on Ultra-supercritical technology, which offers higher efficiency and lower emissions compared to conventional plants. Fuel for the project will come from an allocated coal linkage under the Government of India’s SHAKTI Policy.
The company will receive the Letter of Award (LoA) in the coming days, after which the Power Supply Agreement (PSA) will be signed with the state utilities.
Share price of Adani Green Energy and Adani Power
The share price of Adani Power surged 4.13 per cent on Thursday after the announcement of a letter of intent by Bihar State Power Generation Company. However, the stock opened 0.21 per cent lower today, August 8.
The share price of Adani Green Energy opened 1.26 per cent lower than its previous close, despite the company announcing the commissioning of a 50 MW solar–wind hybrid power project in Khavda, Gujarat.