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PGCIL wins transmission project for renewable energy evacuation from Rajasthan REZ

India, News

Power Grid Corporation of India Ltd (PGCIL) has been declared the successful bidder for an interstate transmission system (ISTS) project to evacuate renewable energy from Rajasthan’s Renewable Energy Zone (REZ) Phase IV. PGCIL will establish the project under tariff-based competitive bidding (TBCB) on a build, own, operate, and transfer (BOOT) basis. The project, named “Transmission System for evacuation of power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer Complex): Part H1,” will involve…

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

India, News

At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…

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MSEDCL awards 5 GW solar power contract to Adani Power

India, News

Maharashtra State Electricity Distribution Company (MSEDCL) has issued a letter of intent (LoI) to Adani Power (APL) for the supply of 5,000 MW of solar power to Maharashtra. This follows Adani Group’s successful bid to supply a total of 6,600 MW, including 5,000 MW of solar power and 1,600 MW of thermal power. Adani Green Energy (AGEL) will enter into a long-term power purchase agreement (PPA) with MSEDCL to provide solar energy from the world’s…

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Adani Green repays USD 750 million Holdco Notes, avoiding refinancing

India, News

Adani Green Energy Ltd announced it has fully repaid its $750 million Holdco Notes, using cash reserves and a fully funded redemption reserve, without the need for refinancing. The 4.38% Holdco Notes, issued in September 2021 to fund the company’s expansion, were redeemed ahead of their September 8 due date, according to a stock exchange filing on September 9. The bonds supported Adani Green’s growth over the past three years, during which the company tripled…

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PGCIL, Adani qualify for Jam Khambhaliya Pooling Station augmentation bids

India, News

Power Grid Corporation of India Ltd (PGCIL) and Adani Energy Solutions Ltd (AESL) have qualified to open initial price bids for the Jam Khambhaliya Pooling Station augmentation scheme in Gujarat. PFC Consulting Ltd (PFCCL) is coordinating the bidding process under the ISTS scheme, “Augmentation of transformation capacity at Jam Khambhaliya PS (GIS),” which could progress to an e-reverse auction (e-RA) based on initial bids. The winner will be chosen through final price bids from the…

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Adani Power to triple Kawai thermal plant capacity with Rs 180 billion investment

India, News

Adani Power plans to triple the capacity of its Kawai thermal power plant in Rajasthan, increasing it from 1,320 MW to 4,520 MW, with an investment of up to Rs 180 billion. The expansion will be carried out in two phases, each adding 1,600 MW over the next few years. As part of its broader strategy to double its thermal power capacity, Adani Power is also setting up new plants and expanding existing ones across…

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Adani Green and TotalEnergies to form joint venture with $444 million investment

India, News

India’s Adani Green Energy announced that its board has approved agreements for a TotalEnergies affiliate to invest $444 million in a new joint venture with the company. This follows a previous $300 million deal between Adani Green and the French oil major to expand renewable energy capacity in India, where coal remains the primary energy source. The joint venture will include Adani Green, Adani Renewable Energy Sixty Four, and TotalEnergies Renewables Singapore, with each company…

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Lenders of KSK Mahanadi Power plan new auction after Adani’s Rs 270 billion bid

India, News

Lenders of the bankrupt KSK Mahanadi Power Company, which operates a 3,600 MW coal-based power plant in Chhattisgarh, are planning another auction round in early September. This decision follows the Adani Group emerging as the highest bidder with an offer of Rs 270 billion. Competing bidders will be allowed to surpass Adani’s offer in this new auction. KSK Mahanadi currently has three operational units of 600 MW each, with additional units under construction. In the…

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PGCIL, Sterlite Power, Adani qualify for initial price bids in Navinal ISTS-TBCB project

India, News

Three developers—Power Grid Corporation of India Ltd (PGCIL), Sterlite Power, and Adani Energy Solutions Ltd (AESL)—have qualified for the opening of initial price bids for the ISTS-TBCB scheme under “Navinal Transmission Ltd.” The bidding process, coordinated by PFC Consulting Ltd (PFCCL), began in May 2024 and will soon move to the e-reverse auction (e-RA) phase. The project, officially termed the “Network expansion scheme in Navinal (Mundra) area of Gujarat for drawl of power in the…