Madhya Pradesh Electricity Regulatory Commission (MPERC) has approved a long-term power supply agreement with a wholly-owned subsidiary of Adani Power.
Adani Power has said that MPERC has approved a 25-year power supply agreement (PSA) envisaging 1,230 mw signed between Pench Thermal Power Energy (MP) Ltd, a wholly-owned subsidiary of Adani Power, and MP Power Management Company Ltd.
The power to be supplied from under this PSA will come from a 1,320-mw supercritical thermal power plant to be set up by Pench Thermal Power in Madhya Pradesh, under the “Design, Build, Finance, Own, and Operate” modality.
In another development, Adani Power announced that it has signed a definitive agreement to acquire a 49 per cent stake in Odisha Power Generation Corporation Ltd. (OPGC) from the affiliates of AES Corporation, a US-based energy company. The acquisition cost will be the Indian Rupee equivalent of $135 million. The remaining 51 per cent of OPGC is held by the Odisha state government.
OPGC operates a 1,740-mw thermal power plant in Odisha, which includes a recently commissioned supercritical capacity of 1,320 mw. It has a 25-year PPA with the Odisha Grid Corporation, and a dedicated captive mine in the state.
“Adani Power continues to march ahead towards achievement of its vision to play an important role in fulfilling India’s growing demand for electricity,” notes Gautam Adani, Chairman, Adani Group.
Average PLF falls in Q1
Adani Power also said that the average Plant Load Factor (PLF) achieved by its power plants during the first quarter of FY21 was 51 per cent as compared to 78 per cent achieved in the same period of FY20. The PLF was lower due to the decline in power demand following the announcement of a nationwide lockdown to combat COVID-19.Consolidated electricity sales fell to 12.7 BU (billion units) from 16.5 BU, by the same comparison.
Despite the lockdown, the 3,300-mw Tiroda plant in Maharashtra saw good demand for power for major part of the quarter, due to its advantageous position in the Maharashtra merit order, Adani Power said. The 1,320-mw Kawai plant in Rajasthan also saw improving PLF in the month of June 2020, after the lockdown was relaxed and power demand started to normalize.
Adani Power has an installed thermal power capacity of 12,410 mw spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40-mw solar power plant in Gujarat.
However, the Udupi plant in Karnataka witnessed a sharp fall in PLF due to a slump in power demand. The Gujarat–located Mundra plant’s PLF was also affected by lower power demand and subdued short term market tariffs.
On the other hand, all power plants were able to achieve or exceed normative availability under long term PPAs through diligent efforts, despite restrictions imposed during the lockdown, in fulfillment of their role as providers of the essential service of electricity generation, the company said.
Featured photograph shows the 1,320-mw coal-fired power plant of Adani Group, located at Kawai in Baran district, Rajasthan. This is the largest power generation plant, at a single-location, in Rajasthan. This plant, based on supercritical parameters, is owned by Adani Power Rajasthan Ltd, a subsidiary of Adani Power Ltd.
