Adani Green Energy Subsidiary Rosepetal Solar Energy (RSEPL) Bags 700 MW Solar-Wind Capacity in Maharashtra
Rosepetal Solar Energy (RSEPL), a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has been awarded 700 MW solar-wind hybrid capacity by the Adani Electricity Mumbai Limited (AEML) after the state commission had approved the latters petition for the award of the capacity under a hybrid wind-solar tender.
RSEPL participated in a tender issued by Adani Electricity Mumbai Limited (AEML) for the procurement of 350 MW grid-connected wind-solar hybrid power projects (with a “Green Shoe option” of an additional 350 MW Hybrid power project capacity) in Maharashtra.
Subsequently, AEML has received the approval from the Maharashtra Electricity Regulatory Commission (MERC) for the award of this 700 MW solar-wind hybrid capacity. Accordingly, AEML has now allotted RSEPL 700 MW wind-solar hybrid power project under the tender.
The fixed PPA tariff for this 700 MW hybrid power project is Rs 3.24/kWh for a period of 25 years with a minimum capacity utilisation factor (CUF) requirements of 50 percent.
The projects are expected to be commissioned by the second quarter of the Financial Year 2022. The price of Rs 3.24 per unit was arrived at by the MERC after it rejected the proposed rate of Rs 3.35 by Rosepetal that had been arrived at through a bidding process.
AGEL had informed that with this latest award the firm now has a total of 5.99 GW portfolio of renewable capacity in India, out of which 3.49 GW projects are under implementation and 2.50 GW of renewable projects are operational.
AEML, which is a wholly-owned subsidiary of Adani Transmission Ltd had issued the tender for selection of developers for setting up of 350 MW grid-connected wind-solar hybrid power projects with greenshoe option for an additional 350 MW capacity in July 2019.
As per the tender, the projects will be developed on a Build Own Operate (BOO) basis, and are required to be designed for interconnection with the transmission network of STU/CTU at a voltage level of 220 kV or above.
In May 2019, MERC had approved AEML’s petition to initiate the bidding process for the procurement of 700 MW of solar power. The commission has ordered to initiate bidding without the domestic content requirement condition.