Last Updated : Friday, July 13, 2018 02:21:24

Adani Green Energy bags 2 new contracts for total generation of 300MWac Solar Power

AHMEDABAD | MUMBAI | RAJKOT – Adani Green Energy Ltd (AGEL), through its wholly owned subsidiary, Mahoba Solar (UP) Private Limited has won tenders for setting up 300 MWac solar generation projects, the company said in regulatory filing submitted to exchanges in India.

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 (Power Purchase Agreement) tariff agreed upon is 3.48 rupees/kWh for a period of 25 years, the filing said.

Project is expected to be commissioned by Q3 (third-quarter | Oct-Dec Quarter) of financial year 2019-20.

Separately, the subsidiary also 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 agreed upon is 2.54 rupees/kWh for a period of 25 years.

Project is expected to be commissioned by Q2 (second quarter | Jul-Sep Quarter) of financial year 2020-21.

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, the filing claimed.

Announcement from the company for bagging new orders hit the exchanges in India after the trading session had ended for the day, it will be interesting to see, how investors & traders react to the new order new and how it impacts the share prices of Adani Green as well as group companies.




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