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Adani Green wins 700-MW wind-solar hybrid project in India

Collocated solar and wind parks. Photo Credit: Istock

January 28 (Renewables Now) - Adani Electricity Mumbai Ltd (AEML) has allotted a 700-MW wind-solar hybrid project in Maharashtra to a unit of Adani Green Energy Ltd (BOM:541450) as part of a recently held tender.

Adani Green said in a statement that the award comes after the project was approved by the Maharashtra Electricity Regulatory Commission (MERC).

The plant will sell power at a fixed tariff of INR 3.24 (USD 0.045/EUR 0.041) per kWh over a period of 25 years. The power purchase agreement (PPA) is tied to a minimum capacity utilisation factor (CUF) requirement of 50%.

The project will be executed by Adani Green’s wholly-owned subsidiary Rosepetal Solar Energy Pvt Ltd (RSEPL) by the second quarter of fiscal year 2022.

AEML launched the tender for a 350-MW grid-connected wind-plus-solar project, with a greenshoe option for a further 350 MW, in July 2019.

(INR 10 = USD 0.140/EUR 0.127)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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