Adani Power said on Saturday that it won a tightly contested bid to supply 1500 MW (net) of thermal power to Uttar Pradesh.
As part of the contract, the Adani Group company will supply power at a highly competitive tariff of Rs 5.383 per unit from a greenfield 2x800 MW (1500 MW net) Ultra-supercritical power plant to be set up in the state under the Design, Build, Finance, Own, and Operate (DBFOO) model.
This is further to the Uttar Pradesh cabinet, which approved the project earlier this month.
The Company will now sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) under the Letter of Award (LoA) received today, Adani Power said in a statement.
"We are happy to have won the competitive bid to supply 1,500 MW power to UP state and feel privileged to play a leading role in meeting the state's rapidly growing power demand. We plan to set up a modern and low emission Ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by FY30," said SB Khyalia, Chief Executive Officer, Adani Power.
Khyalia said Adani Power would invest USD 2 billion in setting up the plant and related infrastructure.
The project is expected to generate direct and indirect employment of 8,000-9,000 during the construction phase and 2,000 once in operation.Thermal power demand in UP is seen rising by 11,000 MW by 2033-34 owing to factors like industrialisation, urbanisation, and modernisation. This 1,500 MW order is part of the government's initiative to meet that future demand.This is second major PSA (power sale agreement) bid the company has won in the last one year, after receiving the composite 6,600 MW (1600 MW thermal and 5000 MW solar) Letter of Intent from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) in September 2024, which subsequently has been converted into a PSA.
Adani Power (APL), a part of the Adani portfolio, is one of the largest private thermal power producers in India. The Company has an installed thermal power capacity of 17,510 MW spread across eleven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
