Adani Power has secured a 1,600 MW ultra-supercritical thermal power project from Madhya Pradesh’s Power Management Company and will invest Rs 21,000 crore to set up the plant and related infrastructure.
Gautam Adani-led Adani Power has won the project in two instalments. The additional LoA was received on Thursday from MPPMCL for the supply of 800 MW of electricity at the same tariff of Rs 5.838/kWh, which also applies to the 800 MW capacity awarded earlier on August 29. The project is part of the company’s ongoing efforts to expand its ultra-supercritical thermal power capacity in central India.
Completion timeline set at 60 months
In its regulatory filing on Thursday, the company said the project will be developed under the “Greenshoe Option” in Anuppur district, Madhya Pradesh, on a Design, Build, Finance, Own, and Operate (DBFOO) model. Fuel for the plant will be sourced from the coal linkage allocated under the SHAKTI Policy.
The new plant is expected to be completed within 60 months from the appointed date. Adani Power will manage the design, construction, financing, and operations of the plant.
Adani Power bags fifth major order in 12 months
According to PTI, this marks the fifth major power supply order bagged by Adani Power in the past 12 months, taking its total awarded capacity to 7,200 MW. The company said it expects to sign the power supply agreement (PSA) with the state discom in due course.
Adani Power currently operates 18.15 GW of capacity across 12 thermal power plants and has set a target to reach 41.87 GW of total generation capacity by 2031-32. Its installed thermal capacity of 18,110 MW is spread across plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu. In addition, the company operates a 40 MW solar power project in Gujarat.
Share Price of Adani Power
The share price of Adani Power opened 2 per cent higher in today’s trade compared to the previous close, following the announcement of the project on the BSE. The stock has gained 18.61 per cent so far this year.