Two Adani Group companies — Adani Power and a wholly owned subsidiary of Adani Green Energy — received Letters of Award (LoA) from the Assam Power Distribution Company for two major projects in Assam: a state-of-the-art thermal power plant and a pumped storage facility. The companies informed the exchanges on Friday that, together, the projects involve an investment of around Rs 63,000 crore in the state.
Adani Power bags 3,200 MW thermal project
Adani Power will invest approximately Rs 48,000 crore to set up a 3,200 MW greenfield ultra super critical power plant in Assam.
The company has received a long-term contract from the Assam Power Distribution Company (APDCL) to supply electricity from a new 3,200 MW ultra-supercritical thermal power project. The contract covers the entire 3,200 MW capacity of the greenfield plant, which will be developed in Assam under the Design, Build, Finance, Own and Operate (DBFOO) model.
Adani Power will source coal from linkages arranged by the utility under the Centre’s SHAKTI policy. The project, comprising four units of 800 MW each, will be commissioned in phases starting December 2030, with full commissioning targeted for December 2032.
Adani Green Energy subsidiary wins 500 MW hydro storage order
Adani Green Energy, on the other hand, plans to invest around Rs 15,000 crore to set up two pumped storage plants in the state, with a combined capacity of 2,700 MW.
Its wholly owned subsidiary, Adani Saur Urja (KA), has received an LoA from APDCL for a 500 MW pumped hydro energy storage project.
The storage capacity was awarded through a competitive bidding process conducted by APDCL. Under the LoA, Adani Green Energy will receive an annual fixed tariff of Rs 1,02,92,887 per MW for 40 years from the project’s commercial operation date.
Share price of Adani Power
The share price of Adani Power has gained nearly 46.89% so far this year.
Share price of Adani Green Energy
The share price of Adani Green Energy has gained nearly 3.77% so far this year.
