2024-11-28 05:00:08 :
NEW DELHI: The Andhra Pradesh government has granted Adani Green Energy Ltd a second extension to supply renewable power, three people familiar with the matter said, after the company missed two previous deadlines due to unavailability of transmission.
Adani Green’s original March deadline was extended to September. Supply of renewable energy to the state must now begin by December 25.
In one of India’s largest green energy supply deals, Adani Green has signed up to supply 3,000 MW of renewable electricity to Andhra Pradesh starting in 2024, a further 3,000 MW by 2025 and a further 1,000 MW by 2026 .
Responding to Mint’s query about the Andhra Pradesh government’s extension, a spokesperson for Adani Green said the company’s scheduled completion dates for renewable energy projects are “constrained” under its power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) . Through end-to-end evacuation availability and preparedness”.
The Solar Energy Corporation of India (SECI) is a government agency under the Ministry of New and Renewable Energy that promotes the development and implementation of solar projects in the country through tenders. It also purchases power from developers and sells it to state-owned distribution companies.
“In this particular case (power supply to Andhra Pradesh), the updated transmission system availability on the CTUIL (Central Transmission Utilities of India Limited) website is April 2025 and then January 2026, 1GW each. Taking cognizance of the above delays, SECI has extended the (scheduled completion date) of our project to comply with the above timelines and we are fully committed to supplying energy as per the power purchase agreement…” an Adani Green spokesperson said in an email response.
The delay in power supply to Adani Green in Andhra Pradesh comes as the N. Chandrababu Naidu-led state government is considering suspending its power supply agreement with the company, Reuters reported.
The report comes after U.S. authorities last week indicted Adani Group founder and chairman Gautam Adani and other executives for bribing Indian government officials to win solar contracts. Adani has denied the accusations, calling them “baseless”.
Senior Andhra Pradesh government officials said Naidu was investigating the facts of the case. “…If he finds any illegality, the matter will be brought to the cabinet. The right decision will be in the best interest of the country,” the official said on condition of anonymity.
In response to a text message from Mint, solar company chairman RP Gupta said he had “no information about the development”.
Spokespersons for SECI, Ministry of Renewable Energy, Andhra Pradesh Energy Department, AP Ltd Southern Power Distribution Company and Andhra Pradesh Eastern Power Distribution Company did not immediately respond to queries emailed on Wednesday.
“Media reports are incorrect”
Adani Green Energy said in a regulatory filing earlier on November 27 that US prosecutors, as reported by the media, had brought charges against Gautam Adani, his nephew Sagar Adani, executive director of Adani Green, and the company’s chief executive officer. Executive Vneet Jaain’s accusations are “incorrect”. He is also the Chairman of Adani Green.
Adani Green said in a statement that the U.S. Justice Department’s indictment does not name the three Adani executives on any corruption or bribery charges. “Media reports that Messrs. Gautam Adani, Sagar Adani and Vineet Jain have been charged with violating the U.S. Foreign Corrupt Practices Act (FCPA) are incorrect,” the company said.
Adani Green has an operating capacity of 11.184 GW and plans to increase its green energy portfolio to 50 GW by 2030. The company also produces solar and wind energy modules and is currently developing the world’s largest renewable energy plant with a capacity of 30 GW. Total investment in Khavda Renewable Energy Park in Gujarat $1.5 trillion.
Adani Green shares closed up 10% on Wednesday $988.40 per person.
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