Adani Power Grab Order of RS 2,000 Crore for supplying power to Uttar Pradesh

Adani Power has signed a fresh long-term power supply agreement to supply 1,500 MW of thermal power to Uttar Pradesh Power Corporation. As country’s biggest private thermal power company, they will supply electricity at quite a competitive rate of RS 5.383 per unit from their power plant.

The project was approved by the UP cabinet last month, and the company will sign this contract with Uttar Pradesh Power Corporation soon. The estimated investment of this project will be around RS 16,600 Crore.

According to an official statement by company’s Chief Executive Officer SB Khyalia, they are happy to have grabbed this bid of 1,500 MW power for fulfilling the rapidly growing power demand of Uttar Pradesh. He further states the plans for setting up a modern and low-emission power plant in the state and focuses on supplying reliable power by 2030.

As per Khyalia, they will invest around $2 billion in setting up the plant and related infrastructure. There will be an employment of approximately 9,000 people generated during the construction phase and around 2,000 once the plant starts to operate.

It aligns with UP government efforts to fulfil the power needs in the next 10 years due to urbanization and industrialization.

How is Adani Power portfolio growing?

 If we talk about the past year, it is the second major Power Supply Agreement bid of Adani Power. They entered into an agreement with Maharashtra State Electricity Distribution Company Ltd for a composite 6,600 contract previously.

It consists of 5,000 MW solar and 1,600 MW thermal capacity that has been transformed into a PSA. Overall, the company has an installed thermal power capacity of around 17,510 MW in various states of India. It includes Rajasthan, Gujarat, Madhya Pradesh, Tamil Nadu, and Karnataka.

This move from the company proves their strategy for expanding in Uttar Pradesh.