Adani Green Energy signs 5GW Power Purchase Agreement for Khavda Solar Project

Adani Green Energy, a leading Indian renewable energy company, has secured a 25-year, 5GW power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company (MSEDCL). The power will be generated at the Khavda solar park in Gujarat, which is part of a larger renewable energy complex with a potential capacity of 30GW.

The projects will be developed over the next three years and connected to the Interstate Transmission System. The PPA was set at a rate of INR 2.70/kWh (US$0.03), marking the largest solar agreement signed in India since 2020.

In addition, Adani Power, the thermal power subsidiary of Adani Group, has signed a 1.6GW PPA with MSEDCL to provide thermal power to Maharashtra. The thermal capacity was awarded to APL on design, build, finance, own, and operate basis. The project will generate power in two phases: Unit 1 in 3.5 years and Unit 2 in four years.

Sagar Adani, executive director of Adani Green Energy, hailed the agreement as a significant move toward achieving India’s energy independence and promoting a sustainable future.