Rosepetal Solar Energy Private Limited (RSEPL), a wholly-owned subsidiary of Adani Green Energy Limited (AGEL), has been allotted a 700 MW wind-solar hybrid power project at a tariff of ₹3.24 (~$0.045)/ kWh.

According to a Bombay Stock Exchange (BSE) filing by the company, the wind-solar hybrid power project is expected to be commissioned by Q2 of the financial year (FY) 2022.

With this, Adani Green Energy now has a total of 5.99 GW of renewable energy capacity, out of which 3.49 GW projects are under development, and 2.5 GW of the projects are operational, says the filing.

In July 2019, Adani Electricity Mumbai Limited (AEML) had floated the tender for 350 MW of grid-connected wind-solar hybrid power projects and an additional 350 MW under the greenshoe option of the global competitive bidding process. The tender had also specified that a maximum bid of 700 MW capacity could be offered by an interested bidder, including the 350 MW offered under the greenshoe option.

In the e-reverse auction held in September 2019, AEML received a response from six bidders for a cumulative capacity of 1,500 MW. Rosepetal Solar Energy Private Limited emerged as the lowest bidder for 350 MW quoting a tariff of ₹3.35 (~$0.046)/kWh and also offered an additional 350 MW under greenshoe option. So, Adani issued a letter of award (LoA) to Rosepetal Solar Energy Private Limited for 700 MW for 25 years at ₹3.35 (~$0.046)/kWh.

In January 2020, Mercom reported that the Maharashtra Electricity Regulator Commission (MERC) had asked AEML to renegotiate a lower tariff in response to AEML’s petition seeking the adoption of a tariff of ₹3.35 (~$0.046)/kWh for the procurement of 700 MW of wind-solar hybrid power to meet its renewable purchase obligation (RPO) targets.

In its order, the Commission stated that the tariff of ₹3.35 (~$0.046)/kWh discovered and proposed by the AEML for 700 MW of hybrid power was too high. It instead suggested that the company can renegotiate with Rosepetal Solar Energy for a lower tariff of ₹3.24 (~$0.045)/kWh.

Previously, it was reported that Adani Electricity Mumbai Limited issued a Request for Selection (RfS) for the purchase of power from 350 MW of grid-connected solar projects on a long-term basis through a competitive bidding process to fulfill its RPO. The company also intends to procure an additional 350 MW of power under the greenshoe option under the Domestic Content Requirement (DCR) category.

Adani Electricity Mumbai Limited is an integrated utility engaged in power transmission across Mumbai and Maharashtra and the distribution of electricity to the suburbs of Mumbai. Its total distribution network spans over 400 sq km catering to the needs of 2.9 million customers. Its market share of Mumbai is approximately 87% by license area, 67% by consumers served, and 55% by electricity supplied.

Image credit: Nenad Kajić / Veneko.hr [CC BY-SA]