Mumbai, April 4 : Power sector experts on Friday hailed the collaboration between the Mukesh Ambani-led Reliance Industries Limited (RIL) and the Adani Group headed by Gautam Adani following RIL’s move to pick up 26 per cent stake in Adani Group’s power plant in Madhya Pradesh.

They claimed that it is one of the major chapters in India’s power sector, especially with its installed capacity of 4,28,000 MW and an ambitious plan to add 500,000 MW of renewable energy capacity by 2030.

The power sector experts hoped that many more such collaborations will take place in the wake of a further push by the Centre and different state governments to liberalise the sector.

As per the collaboration, RIL will purchase 26 per cent in Mahan Energen, a subsidiary of Adani Power, for Rs 50 crore and procure 500 MW of electricity for the Madhya Pradesh plant.

According to Adani Power, one of the 600 MW capacity of the Mahan thermal power plant in Madhya Pradesh will be designated as a captive unit as per the stipulated norms.

Commenting on the development, former Power Secretary R.V. Shahi said, "The collaboration between two of the largest groups in the country is bound to provide a fillip to not only such cooperations, but also to other collaborative efforts, leading to even higher heights of success."

"What has been achieved post the Electricity Act, 2003 is more than three times of what was achieved during the 50 years prior to that," he added.

"This is the era of renewable energy, which is also facilitated by the de-licensing of power generation which took the growth in the power sector to a different orbit. By 2032, we are geared to achieve more 800,000 MW of capacity.