Adani Electricity Mumbai Limited (AEML), a subsidiary of India’s Adani Group, has invited bids for the procurement of 1.5 GW of power grid-connected renewable energy projects. The procurement is divided between an initial 750 MW capacity and another 750 MW capacity under green shoe option. It will be complemented with firm power from any other source in India on a Round the Clock (RTC) basis.
Bids can be submitted until 1 February 2023 and will be opened on 3 February. The projects will be developed on a Build, Own and Operate basis, and bidders will have to submit INR500,000/MW (US$6,034/MW) for each project as a deposit, as well as a INR1m (US$12,069) performance bank guarantee per project. The minimum project capacity for each project is 50 MW, while 1.5 GW is the maximum. AEML will sign a 10-year agreement with the chosen bidders.
In September 2022, Adani Green, another subsidiary of the Adani Group, commissioned a 750 MW co-located wind-solar hybrid power plant in Jaisalmer, Rajasthan.
At the end of 2021, solar and wind accounted for over 20% of installed capacity in India, with respectively 49 GW and 40 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW and meet 50% of its energy requirements from renewables by 2030.
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