Adani Power to supply 1,500 MW to UP

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.

This is further to the Uttar Pradesh cabinet approving the project earlier this month, a company statement said.

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.

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 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.

"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