Adani Green Signs Major Solar PPA with Maharashtra, Targets 50 GW by 2030

On September 15, 2024, Adani Green Energy Limited (AGEL), India’s largest renewable energy company, is set to sign a long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL). This agreement, based on a Letter of Intent (LOI), involves supplying 5 GW (5000 MW) of solar power from the world’s largest renewable energy park in Khavda, Gujarat, to the state of Maharashtra. The project is being developed by Adani Power Limited (APL) under the terms outlined in the tender.

In addition, Adani Power Limited, India’s largest private thermal power producer, will also enter into a long-term Power Supply Agreement (PSA) with MSEDCL. This agreement will provide Maharashtra with 1496 MW of thermal power from a new 1600 MW ultra-supercritical thermal power plant.

Maharashtra has been a leader in promoting solar energy, significantly contributing to India’s renewable energy goals. AGEL has been actively involved in boosting Maharashtra’s renewable energy mix, which the new supply agreements will further enhance. For example, AGEL’s wind-solar hybrid project in Jaisalmer began supplying green energy to Mumbai in March 2023, raising the renewable energy share in the city’s electricity mix to 37% by June 2024.

Mr Sagar Adani, Executive Director of Adani Green Energy, said, “We are glad to collaborate with MSEDCL to meet the states’ rising energy demand through renewable sources and fulfil its RE commitments. Our goal is to accelerate India’s clean energy transition. This is a crucial step towards the country’s energy independence and building a sustainable future. Adani Green is well positioned to achieve the 50 GW target with secured resource-rich sites in strategic locations, a portfolio mix of renewables and storage solutions, a robust supply chain and clear evacuation plans.”

About Adani Green Energy Limited

Adani Green Energy Limited (AGEL) is India’s largest renewable energy company and a global leader in supporting the clean energy transition. The company develops, owns, and operates large-scale solar, wind, hybrid, and hydro pumped storage power plants that are connected to the grid. AGEL currently has a renewable energy capacity of 11.2 GW, the biggest in India, spread across 12 states. The company aims to reach 50 GW by 2030, aligning with India’s carbon emissions reduction goals.

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