New Delhi:
Adaani Green Energy Limited (AGEL) said on Tuesday that the company’s associate unit Adi Solar Energy (LA) has received a large contract of energy storage capacity from Uttar Pradesh Power Corporation Limited (UPPCL). Adaani Group’s Renewable Energy Company told the stock market that the company has received the letter of award (LOA) for 1,250 MW of energy storage from pumping hydro storage projects.
This project has been found through e-reverse auction organized by UPPCL.
Under this contract, the annual fixed cost (except tax) for the project has been fixed at Rs 76,53,226 per year.
Adani Green told the stock market, “The company’s assistant unit Adani Solar Energy (LA) Limited has been awarded a letter of award (LOA) for 1,250 MW from Pump Hydro Storage Projects by Uttar Pradesh Power Corporation Limited (UPPCL). . “
The company has said that the agreement projects will be valid for 40 years from the date of starting commercially and there will be no change in the annual fixed cost during this period.
Adani Green said that this project is located in Sonbhadra district of Uttar Pradesh and it will be completed in the coming six years.
Apart from this, on Monday, Adani Power Limited (APL) received a letter of introduction (LOI) for the acquisition of Vidarbha Industries Power.
Adani Power was selected as a successful solution applicant under the Corporate Insolvency Procedure (CIRP) of Vidarbha Industries Power Limited.
Vidarbha Industries Power has two thermal power plants of 300 MW capacity in MIDC Industrial Area of Butibori in Nagpur and are operated by the company itself.
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