RENEWABLE ENERGY

Adani Renewable places lowest bid in SECI’s wind auction

Adani Renewable Energy on Monday placed the lowest bid of ₹2.77 per unit at an auction conducted by state-run Solar Energy Corp. of India Ltd (SECI) for setting up and supplying 1.2-gigawatt (GW) wind power capacity, two people aware of the matter said.

The second lowest bid of ₹2.78 per unit was placed by CDC Group Plc-backed Ayana Renewable Power, Evergreen Power and JSW Future Energy Ltd. While Adani Renewable and Ayana will get the contract to develop and supply 300 megawatt (MW) each, Evergreen and JSW Future will be awarded the contract for 150 MW and 450 MW capacity, respectively. The other bidders included European alternative asset manager EQT and Temasek-promoted O2 Power, Shirdi Sai Electricals, Amp Energy, and ReNew Power.

An Adani Group spokesperson did not respond to a Mint query.

With businesses spanning across energy, ports, airports, logistics, mining, resources, gas, defence and aerospace, Adani Group has been ramping up its green energy portfolio.

Adani Green Energy Ltd (AGEL) has formed an equal joint venture (JV) with French energy giant Total and plans to commission 25 GW by 2025. Total has invested $2.5 billion for a 50% stake in 2.35 GW operating solar assets of AGEL and a 20% stake in AGEL. With 3.24GW operational capacity and 14.81 GW total portfolio, the JV has one of the largest green energy asset bases in India and plans to commission 25 GW by 2025.

India’s wind power tariffs had plummeted to a record low ₹2.43 per kWh at an auction conducted by state-run Gujarat Urja Vikas Nigam Ltd

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