Adani Green Energy Commissions 50 MW Solar Power Project in UP

The Company has filed an appeal before the Appellate Tribunal for Electricity (APTEL) challenging reduction in PPA tariff from Rs 8.44/kWh to Rs 5.07/kWh by Uttar Pradesh Electricity Regulatory Commission (UPERC).

Adani Green Energy (UP) Limited (AGEUPL), a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has commissioned 50 MW solar power project in the state of Uttar Pradesh.

The off-taker for the said project is the Uttar Pradesh Power Corporation Limited (UPPCL). The project has been developed and will be operated by AGEUPL after it won the contact from UPPCL.  The two entities signed a Power Purchase Agreement (PPA) for 25 years, with a tariff, at present, Rs 5.07 per kWh.

The Company has, however, filed an appeal before the Appellate Tribunal for Electricity (APTEL) challenging reduction in PPA tariff from Rs 8.44/kWh to Rs 5.07/kWh by Uttar Pradesh Electricity Regulatory Commission (UPERC).

Further, Adani Renewable Energy Park (Gujarat) limited (AREPGL), another wholly-owned subsidiary of AGEL has also won the bid for setting up 250 MW wind power project in the tender issued by Solar Energy Corporation of India (SECI). The firm won the tender with their bid of Rs 2.82 per kWh for a period of 25 years. With this, AGEL‘s portfolio of renewable generation capacity in India stands at 4.56 GW with 2.02 GW operational projects and balance 2.54 GW in the development stage.

In April, the Maharashtra Electricity Regulatory Commission (MERC) in an order approved Adani Electricity Mumbai Limited’s (AEML) petition to initiate the bidding process for the procurement of 700 MW of solar power. The commission has ordered to initiate bidding without the domestic content requirement condition.

In its petition, AEML had requested the commission to accord approval for initiation of competitive bidding for procurement of 350 MW of solar power with a greenshoe option of an additional 350 MW on long term basis as proposed. And, to approve bid documents; draft request for selection (RfS) and draft power purchase agreement (PPA) along with deviation.