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Adani Power wins 1,500 MW thermal deal with UP at Rs 5.383 per unit
Adani Power has secured a long-term contract to supply 1,500 megawatts (MW) of electricity to Uttar Pradesh at Rs 5.383 per unit for 25 years, following a competitive bidding process.
The state's cabinet approved a power purchase agreement (PPA) between Uttar Pradesh Power Corporation (UPPCL) and Adani Power on Tuesday, marking a key step in the region's push to secure future energy demand.
'We decided to purchase a total of 1,500 MW (ex-bus) power from a 2x800 MW (1,600 MW) thermal power project based on competitive bidding,' said A K Sharma, energy minister, Uttar Pradesh.
'Seven companies came forward and participated in the bidding process. Adani Power has won a contract to supply 1,500 MW from a thermal power plant in the northern state of Uttar Pradesh at Rs 5.383 per unit,' he added.
The supply will originate from a new thermal facility to be developed within the state. The bidding was conducted against a tender issued in October 2024, aimed at addressing the state's projected need for an additional 10,795 MW of thermal power by the year 2033–34.
Adani Power, India's largest private thermal power producer, quoted a fixed charge of Rs 3.727 per unit and a fuel charge of Rs 1.656 per unit in its winning bid.
'Adani Power's bid was the cheapest bid to provide energy in both parts of the power purchase cost,' said Sharma.
Shares of Adani Power closed 3.45 per cent lower at Rs 537, while the benchmark Sensex declined 0.19 per cent to end at 80,641.07 points.
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