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Adani Green Energy Ltd arm secures tender for solar power projects

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Adani Green Energy Limited ('AGEL'), through its wholly owned subsidiary, Mahoba Solar (UP) Private Limited has won tenders for setting up 300 MWac solar generation projects.

In the tender floated by Uttar Pradesh New and Renewable Energy Development Agency ("UPNEDA"), it won 250 MWac solar generation projects to be set up in. the State of Uttar Pradesh and supply power to Uttar Pradesh Power Corporation Limited. The fixed PPA tariff is Rs. 3.48/kWh for a period of 25 years. Project is expected to be commissioned by Q3 FY 2020.

Separately, it won a tender for 50 MWac solar generation project to be set up anywhere in India and connected through Inter State Transmission System ("ISTS"). The tender was floated by Solar Energy Corporation of India ("SECI") and which shall also be the PPA counterparty. The fixed PPA tariff is Rs. 2.54/kWh for a period of 25 years. Project is expected to be commissioned by Q2 FY 2021.

With these tender wins, AGEL now has a portfolio of renewable generation capacity of 3.45 GWac with 1. 96 GWac operational projects and balance 1.49 GWac in development stage.


Source: Equity Bulls

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