Adani saga: SECI, NTPC top power contractors for Adani Green Energy

AGEL's plans to increase its capacity more than five-fold to 50 GW by 2030

Adani Green Energy (AGEL), which has been caught in the midst of an indictment in a US district court, has an operational capacity of 11 giga Watts (Gw). While discoms from Gujarat and Tamil Nadu are its top buyers, government entities such as NTPC and Solar Energy Corporation of India (SECI) contract even a larger share than the two states.

 

As of September, AGEL has an operational capacity of  11.18 Gw.

 

Of these, a major part of the capacity is contracted through SECI, and about 20 per cent of it is directly sold through agreements with state discoms.

 

 

According to data available on AGEL’s website, 23 per cent of its combined solar and wind capacity of 11.75 Gw (direct current) is contracted directly with discoms from Tamil Nadu, Karnataka, Uttar Pradesh, Punjab, Maharashtra, Gujarat and Telangana. Of these states, Gujarat and Tamil Nadu were the largest buyers. SECI, however, both for AGEL’s operational and planned capacity, remains the biggest counterparty. 

 

AGEL plans to increase its capacity more than fivefold to 50 Gw by 2030. While data on all off-takers for the planned 50 Gw is not available, AGEL’s strategy aims to have 85 per cent of the planned 50 Gw capacity to be tied-up as power purchase agreements (PPAs). AGEL intends to have long-term buyers for this capacity, through 25-year contracts at agreed tariffs.

 

Of AGEL’s upcoming capacity, state discoms such as Maharashtra State Electricity Distribution Company (MSEDCL) are emerging as major buyers. In October, AGEL said one of its wholly-owned subsidiaries has entered into a PPA with Maharashtra State Electricity Distribution Company for supply of 5 Gw solar power.

 

The SECI tender, now at the centre of the US district court indictment order, would also contribute a significant 8 Gw of off-take to AGEL’s planned capacity.

 

Discoms in Odisha, Jammu & Kashmir, Tamil Nadu, Chattisgarh, and Andhra Pradesh have signed PPAs through SECI.