Latest news with #SBKhyalia
Time of India
2 hours ago
- Business
- Time of India
Adani to set up 1.6K MW thermal plant in Mirzapur soon
Mirzapur: Adani Power is going to set up a 1,600 MW coal-based thermal power plant in Dadri Khurd village of Mirzapur district. From this plant 1,500 MW of electricity will be supplied. An agreement has been signed between the company and UP Power Corporation Limited (UPPCL) for long-term power supply. The rate of electricity from this plant has been fixed at Rs 5.383 per unit, which is much cheaper than the market rate. It is estimated that this will lead to direct savings of about Rs 2,958 crore for the state in the next 25 years." This plant will be built on the 'Design-Build-Finance-Own-and-Operate' (DBFOO) model. It will have two units, each of 800 MW. That means total production will be 1600 MW, out of which 1500 MW will go to UP. Recently, the UP Cabinet gave the green signal to this project. After this, Adani Power has signed a long term power supply agreement (PSA) with UPPCL. Company CEO SB Khyalia said, "We are happy that we have played a big role in meeting the power needs of UP by winning this competitive bid. He further said, "Mirzapur will soon become the power house of UP, from where cheap electricity will be available for 25 years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo According to the CEO of Adani Power, "This plant will give Mirzapur an important place on the country's energy map. In the coming times, Mirzapur will not only become a centre for power generation, but its development will also pick up pace." On one hand, the construction of this 1,600 MW power plant in Dadri Khurd will provide cheap electricity to UP at the rate of Rs 5,383 per unit for 25 years and on the other hand, it will boost the industrial pace of Mirzapur. Thousands of people are also likely to get employment from the power plant. The state will also have a potential saving of Rs 2,958 crore in power purchase.
The Print
12-05-2025
- Business
- The Print
Adani Power to supply 1,500 MW to UP
The company will now sign a long-term power supply agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) under the Letter of Award (LoA) received today, it stated. This is further to the Uttar Pradesh cabinet approving the project earlier this month, a company statement said. New Delhi, May 10 (PTI) Adani Power on Saturday said it has won a bid to supply 1,500 MW of electricity to Uttar Pradesh from a greenfield ultra-supercritical power plant in the state entailing an investment of USD 2 billion. According to the statement, Adani Power, India's largest private sector thermal power generator, on Saturday said it has won a tightly contested bid to supply 1,500 MW (net) of thermal power to Uttar Pradesh. As part of the contract, the company will supply power at a highly competitive tariff of Rs 5.383 per unit from a greenfield 2×800 MW (1500 MW net) ultra-supercritical power plant to be set up under the design, build, finance, own, and operate (DBFOO) model in the state. '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,' Adani Power Chief Executive Officer S B Khyalia said in the statement. 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, as per the statement. 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 bid the company has won in the last one year, after receiving the composite 6,600 MW (1,600 MW thermal and 5,000 MW solar) LoI from Maharashtra State Electricity Distribution Company Ltd in September 2024, which subsequently has been converted into a PSA. Adani Power, a part of the Adani portfolio, 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. PTI KKS TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Business Standard
12-05-2025
- Business
- Business Standard
Adani Power rallies after securing 1,500 MW contract in Uttar Pradesh
Adani Power zoomed 5.72% to Rs 542.85 after the firm said it has secured a contract to supply 1,500 MW of thermal power to Uttar Pradesh at a levelised tariff of Rs 5.383 per unit, emerging as the lowest bidder in a competitive tender process. The power will be supplied from a greenfield ultra-supercritical thermal power plant with a 2x800 MW configuration (1,500 MW net capacity), which the company will set up in the state under the Design, Build, Finance, Own, and Operate (DBFOO) model. The proposed project, with an estimated investment of around $2 billion (approximately Rs 16,600 crore), received formal clearance from the Uttar Pradesh cabinet earlier this month. Following the issuance of the letter of award (LoA) today, Adani Power is set to enter into a long-term power supply agreement (PSA) with Uttar Pradesh Power Corporation (UPPCL). S B Khyalia, Chief Executive Officer, Adani Power, said, "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 states 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." Khyalia said Adani Power would invest $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. This is the second major PSA bid the company has won in the last year, after receiving the composite 6,600 MW (1600 MW thermal and 5000 MW solar) LoI 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 the largest private thermal power producer 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. The companys consolidated net profit declined 3.7% to Rs 2,636.97 crore in Q4 FY25 as against Rs 2,737.24 crore posted in Q4 FY24. Revenue from operations jumped 6.5% year on year to Rs 14,237.40 crore in Q4 FY25.
Economic Times
12-05-2025
- Business
- Economic Times
Adani Power rallies 7% after securing 1,500 MW contract in Uttar Pradesh
Adani Power shares surged 7% to an intraday high of Rs 549.65 on the BSE on Monday after the company announced it had secured a contract to supply 1,500 MW of electricity to Uttar Pradesh from a greenfield ultra-supercritical power plant. The project entails an investment of USD 2 billion. ADVERTISEMENT The development follows the Uttar Pradesh cabinet's approval of the project earlier this month. Adani Power will now sign a long-term power supply agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) under the Letter of Award (LoA) received on Saturday. Adani Power, India's largest private thermal power producer, said it won the competitive bid to supply 1,500 MW (net) of thermal power at a tariff of Rs 5.383 per unit. The power will be generated from a 2×800 MW (1,500 MW net) greenfield plant to be developed under the design, build, finance, own, and operate (DBFOO) model. 'We are happy to have won the competitive bid to supply 1,500 MW power to UP 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 and aim to begin supplying reliable and high-quality power by FY30,' said S B Khyalia, CEO, Adani added that the company will invest USD 2 billion in the plant and supporting infrastructure. The project is expected to create 8,000–9,000 direct and indirect jobs during construction, and 2,000 jobs during operations. Also Read: Stocks in news: Tata Steel, Swiggy, Dr Reddy's, Cyient DLM, Thermax, Adani Power ADVERTISEMENT As per Trendlyne data, the average target price of the stock is Rs 634, which shows an upside of 24% from the current market prices. The consensus recommendation from 3 analysts for the stock is a 'Strong Buy'. ADVERTISEMENT On Friday, Adani Power shares closed 1.26% lower at Rs 513.5 on the BSE, while the Sensex fell 1.1%. The stock is down 16% in the past 12 months but has surged 114% over the past two years. The company's market capitalisation stands at Rs 1,98,053 crore. Also Read: 5 timeless Warren Buffett quotes every investor should know (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT
United News of India
11-05-2025
- Business
- United News of India
Adani Power secures 1,500 MW UP order
Ahmedabad, May 10 (UNI) Adani Power Ltd, the country's largest private thermal power generator, on Saturday said it has secured a contract to supply 1,500 MW of power to Uttar Pradesh from a new ultra-supercritical thermal power plant to be set up in that state. The company emerged as the lowest bidder in a competitive tender process conducted by the Uttar Pradesh Power Corporation Ltd (UPPCL), offering a tariff of Rs 5.383 per unit, it said in a statement here. Adani Power will build 2x800 MW (1,500 MW net) greenfield plants under the Design, Build, Finance, Own and Operate (DBFOO) model. The project, approved by the Uttar Pradesh cabinet earlier this month, will entail an investment of approximately USD two billion (around Rs 16,700 crore). "We are happy to have won the competitive bid to supply 1,500 MW power to UP and feel privileged to play a leading role in meeting the state's rapidly growing power demand," said S B Khyalia, Chief Executive Officer, Adani Power Ltd. Khyalia said the project will generate 8,000 to 9,000 direct and indirect jobs during the construction phase, and around 2,000 jobs once operational. The company aims to commence supply by FY 2029-30. The power supply agreement will be signed shortly under the Letter of Award (LoA) received from UPPCL on Saturday. Thermal power demand in Uttar Pradesh is projected to rise by about 11,000 MW by 2033-34, driven by industrialisation and urbanisation. The 1,500 MW order forms a part of the state's broader strategy to meet that future demand. This is Adani Power's second major win in the past year. In September 2024, the company received a Letter of Intent for 6,600 MW (1,600 MW thermal and 5,000 MW solar) from Maharashtra State Electricity Distribution Company Ltd, which has since been formalised as a power supply agreement. Adani Power currently operates 17,510 MW of installed thermal capacity across eight states and a 40 MW solar power plant in Gujarat. UNI BDN SS
