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Adani Green Energy (AGEL) has commissioned a 600 MW interstate transmission system (ISTS) connected wind-solar hybrid power project in Jaisalmer, Rajasthan.
The hybrid power project has been developed under two subsidiaries—Adani Hybrid Energy Jaisalmer Two and Adani Hybrid Energy Jaisalmer Three. The solar project uses bifacial solar modules and employs horizontal single-axis tracker technology to maximize power generation.
Adani had signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) at ₹2.69 (~$0.033)/kWh for 25 years. The Central Electricity Regulatory Commission approved the tariff in May 2020.
SECI had invited bids to set up 1,200 MW of ISTS-connected solar-wind hybrid power projects (Tranche II) in March 2019. The projects were scheduled to be commissioned in 2021-22.
The tender was undersubscribed, and bids received were only for 900 MW against the tendered capacity. The e-reverse auction was carried out on May 27, 2019, and Adani Renewable Energy Park (Gujarat) was declared the successful bidder in the auction quoting a tariff of ₹2.69 (0.033)/kWh for a capacity of 600 MW.
SECI had agreed to sell the entire 600 MW to distribution licensees at the discovered rate of ₹2.69 (~$0.036)/kWh with a trading margin of ₹0.07 (~$0.0009)/kWh upon the commissioning of these projects. Based on the request of the distribution licensees, 500 MW was allocated to Punjab State Power Corporation and 100 MW to India Power Corporation.
In May 2022, AGEL operationalized another hybrid power project with a capacity of 390 MW at Jaisalmer, Rajasthan. With the successful commissioning of this 600 MW project, AGEL now has a total operational generation capacity of 6.7 GW, including an operational hybrid power generation capacity of 1 GW.
In March this year, Adani Green Energy raised a $288 million financing facility by extending its construction financing framework to $1.64 billion for its under-construction renewable asset portfolio through agreements signed with lenders. The facility was meant to help finance 450 MW of the company’s solar-wind hybrid power projects in Rajasthan.