Gautam Adani’s company has won a big deal to supply 1500 megawatts to the state, planned to…
The company will now sign a long-term power agreement (PSA) with UPPCL under a letter of reward (LOA).
Indian billionaire Gautam Adani is the second richest man in India. His Adani team works in multiple departments, including power. The billionaire runs Adani Power, the largest private-sector thermal generator in India. Now, the company announced that it has won 1500 megawatts (net) of heat to Uttar Pradesh. As part of the contract, ADANI will be based on a highly competitive tariff of Rs 5.383 per unit from the Greenfield 2×800 MW (1500 MW net) (1500 MW net) Ultra Perpericaligal Power Plant, which will be built under the Design, Build, Financial, Automated and Operational (DBFOO) model in the state.
Earlier this month, the Uttar Pradesh Cabinet approved the project. Now, the company will sign a long-term power agreement (PSA) with Uttar Pradesh Power Company Limited (UPPCL) under the Reward Letter (LOA). Currently, as of May 11, Adani Power has a market value of Rs 198 crore.
“We are excited to win a competitive competition to deliver 1,500 MW of electricity and feel honored to take a leadership role in meeting the state’s rapidly growing electricity demand. We plan to build modern and low-emission super crisis plants in UP and aim to start providing reliable and high-quality power to FY30,” SB Khyalia, SB Khyalia, CEO, CEO, CEO, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani, Adanani.
Adani Power invests $2 billion
Adani Power CEO Khyalia said the company will invest $2 billion (Rs 17084 crore) to build factories and related infrastructure. The project is expected to generate 8,000-9,000 direct and indirect employment during the construction phase and 2,000 employment after operation.
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Due to factors such as industrialization, urbanization and modernization, UP’s thermal demand will rise by 11,000 MW from 2033-34 to 2033-34. The 1,500 MW order is part of the government’s initiative to meet future needs. This is the second major PSA bid the company has won in the past year after it received a 6,600 MW (1600 MW Thermal and 5000 MW solar) LOI from Maharashtra State Electric Power Company Limited (MSEDCL) in September 2024, which has since been converted to PSA.
(Input with IANS)
