Adani Green Energy Limited has made a significant stride by receiving a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) through its wholly-owned subsidiary, Adani Saur Urja (LA) Limited. This notable achievement emphasizes Adani Green Energy Limited’s commitment to expanding its energy storage capabilities and contributing to sustainable energy solutions.
Project Overview
The project involves the procurement of 1,250 MW energy storage capacity from Pumped Hydro Storage Projects. This capacity was secured through an e-Reverse Auction conducted by UPPCL, showcasing Adani Green Energy Limited’s competitive edge in the renewable energy sector.
Details of the Award
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Entity Receiving the Award: Adani Saur Urja (LA) Limited, a wholly-owned subsidiary of Adani Green Energy Limited
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Awarding Entity: Uttar Pradesh Power Corporation Limited (UPPCL)
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Purpose of the LOA: Procurement of 1,250 MW energy storage capacity from Pumped Hydro Storage Projects
Key Terms and Financials
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Annual Fixed Cost: The Annual Fixed Cost payable under the LOA is Rs. 76,53,226 per MW per annum (taxes extra) for the entire period.
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Duration: The LOA is for a period of 40 years from the Commercial Operation Date (COD), ensuring long-term collaboration and commitment.
Transparency and Interests
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Related Party Transaction: The transaction does not involve any promoter/promoter group/group companies with an interest in UPPCL. Additionally, Adani Saur Urja (LA) Limited is a wholly-owned subsidiary of Adani Green Energy Limited, ensuring full transparency and integrity in the transaction.
Timing and Conditions
The LOA was received by Adani Green Energy Limited at 6.57 PM on February 24, 2025. The significant terms and conditions are as per the provisions of the tender floated by UPPCL, reflecting the comprehensive and structured approach of the awarding entity.
This LOA from Uttar Pradesh Power Corporation Limited (UPPCL) marks a significant milestone for Adani Green Energy Limited. The project not only enhances the company’s portfolio but also contributes to the growth and development of sustainable energy infrastructure in India. The collaboration promises substantial advancements in energy storage capacity, fostering a cleaner and greener future.
