Latest news with #UttarPradeshPowerCorporation
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.
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Business Standard
12-05-2025
- Business
- Business Standard
Adani Power charges up 7% on securing 1,500 MW order from UP Power Corp
Adani Power share price: Shares of Adani Power gained 7 per cent, logging an intraday high at ₹549.65 per share on BSE. The upmove in the stock came after the company received a Letter of Award (LOA) from Uttar Pradesh Power Corporation for procurement of 1,500 MW from a new thermal power project. At 9:22 AM, Adani Power shares were trading 6 per cent higher at ₹544.3 per share on the BSE. In comparison, the BSE Sensex was up 2.33 per cent at 81,309.34. The market capitalisation of the company stood at ₹2,09,933.19 crore. The 52-week high of the stock was at ₹896.75 per share and the 52-week low of the stock was at ₹430.85 per share. In the past one year, Adani Power shares have lost around 14 per cent as against Sensex's rise of 9 per cent. Adani Power order details "This is to inform that Adani Power Limited has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) for procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years," the filing read. According to the provisions of the tender floated by UPPCL. The award was secured following a competitive bid submission process. As part of the contract, Adani Power will supply power at a tariff of ₹5.383 per unit from a greenfield 2x800 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. 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. '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 S.B. Khyalia, chief executive officer, Adani Power. About Adani Power Adani Power, 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.
Business Standard
12-05-2025
- Business
- Business Standard
Adani Power secures 1500 MW thermal power supply deal with UPPCL
Adani Power has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation (UPPCL) for procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years. As part of the contract, the 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 under the Design, Build, Finance, Own, and Operate (DBFOO) model in the state. This is further to the Uttar Pradesh cabinet approving the project earlier this month. The Company will now sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation (UPPCL) under the Letter of Award (LoA) received on 10 May 2025. This is second major PSA bid the company has won in the last one 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 Sep 2024, which subsequently has been converted into a PSA.
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Business Standard
06-05-2025
- Business
- Business Standard
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.
Business Standard
24-04-2025
- Business
- Business Standard
Adani Green Energy rises after arm signs PPA for 1,250 MW energy storage project
Adani Green Energy rose 1.15% to Rs 963.70 after its wholly-owned step-down subsidiary, Adani Hydro Energy Five, signed a power purchase agreement (PPA) with Uttar Pradesh Power Corporation for a major energy storage project. According to a stock exchange filing, the agreement covers the supply of 1,250 megawatts (MW) of energy storage capacity from pumped hydro storage projects, marking a major step in Adani Green's push towards strengthening renewable energy infrastructure in India. Adani Green Energy is Indias largest and one of the leading renewable energy companies in the world, enabling the clean energy transition. It develops, owns, and operates utility-scale grid-connected solar, wind, hybrid, and hydro pumped storage renewable power plants. The company has set a target of achieving 50 GW by 2030, aligned to Indias decarbonization goals. The company's consolidated net profit rose 92.2% to Rs 492 crore on a 3.1% increase in net sales to Rs 2,286 crore in Q3 FY25 over Q3 FY24.
