Adani Seeks to Purchase 700 MW of Solar Power With 350 MW Under Greenshoe Option
The minimum project capacity will be 50 MW
Adani Electricity Mumbai Limited has issued a Request for Selection (RfS) for the purchase of power from 350 MW of grid-connected solar projects on a long-term basis through a competitive bidding process. This is to fulfil the Renewable Purchase Obligation (RPO) of Adani Electricity Mumbai.
The company also intends to procure additional 350 MW of power under Greenshoe option under the Domestic Content Requirement (DCR) category.
A bidder can submit multiple bids for a maximum cumulative capacity of 700 MW, including the capacity offered under the Greenshoe option. However, selection of the 350 MW capacity under Greenshoe will be at Adani Electricity’s discretion.
The company will enter into power purchase agreement (PPA) with the selected bidders for a period of 25 years from the commercial operation date of the project.
To be eligible to bid for the project, the net-worth of the bidder should be equal to or greater than ₹ 10.7 million (~$ 0.15 million) per MW of the quoted capacity for the financial year ending 2017-18.
It will be mandatory for all the projects to meet the domestic content requirement. The RfS says-
In case of crystalline silicon technology, all process steps and quality control measures involved in the manufacture of the solar cells and modules from P-type (or N-type) wafers until the final assembly of the solar cells into modules should be performed at the works of PV manufacturers in India. The requisite P-type (or N-type) wafers and other raw materials can be imported.
Adani Electricity Mumbai Limited is an integrated utility engaged in power transmission across Mumbai and Maharashtra and distribution of electricity to the suburbs of Mumbai. The company distributes power to over 3 million consumers in its licensed area of supply. It wheeled 11,154 million units in the financial year ending March 31, 2018 and met maximum system demand of 1,954 MW in the current financial year-to-date.
This month, Torrent Power Limited (TPL), an electricity distribution licensee operating in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, also issued RfS for the procurement of up to 300 MW of power from grid-connected solar photovoltaic power projects in Gujarat to fulfil its renewable purchase obligation.
Recently, Adani Green Energy announced the acquisition of a 51 percent equity share capital in Kodangal Solar Parks Private Limited (KSPPL), comprising a 20 MW solar project which was incorporated back in August 2015.
Moreover, the Madhya Pradesh Electricity Regulatory Commission (MPERC) recently dismissed a review petition filed by Madhya Pradesh Power Management Company Limited (MPPMCL) seeking relief against an order issued by the commission for a case between MPPMCL and Adani Green Energy. MPPMCL is the holding company for all the DISCOMs of Madhya Pradesh.
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer