Adani Green Energy Ltd said it has outstanding dues of ₹437 crore from Tamil Nadu Generation and Distribution Corporation (Tangedco) as on March 31, 2020.
In an investor presentation, the company said it has a healthy receivables profile, excluding Tangedco.
Out of the total dues from the state utility, ₹ 169 crore has been due for more than 180 days, ₹91 crore is due for 121-180 days and ₹48 crore is due for 91-120 days, it said.
The company runs 648 MW solar power plant in Kamuthi, which is one of the biggest projects in a single location in the world.
The company has a power purchase agreement with Tangedco for the capacities with the tariff ranging from ₹ 5.01 per unit to ₹ 7.01 per unit. Some of the tariff is under dispute and the case is pending before Tamil Nadu Electricity and Regulatory Commission.
Adani Green’s subsidiaries M/s. Ramnad Solar Power Ltd, Adani Green Energy (Tamil Nadu) Ltd and Kamuthi Renewable Energy Ltd which the run the solar plant in the state has depending dispute against Tangedco and Tamil Nadu State Load Despatch Centre over the issue of backing down (unplugging of power from the State grid) instructions for solar power.
