Adani Power announced it received 1,600 MW ultra-supercritical thermal power project from MP Power Management Company (MPPMCL). The company plans to invest ₹21,000 Crore to establish the plant and related infrastructure.
The company informed that it received a Letter of Award (LoA) from MPPMCL. It has been awarded additional capacity under the greenshoe option.
At around 2.05 PM, Adani Power was trading 3.23% higher at ₹644.80, against the previous close of ₹624.65 on NSE. The counter touched an intraday high and low of ₹646.95, and 627.80, respectively.
This development comes after Adani Power’s earlier success in securing an initial 800 MW capacity in the bidding process.
This is the fifth largest power supply project secured by the company in the same bidding process within 12 months. With this addition, the total awarded capacity increased to 7,200 MW.
This additional capacity of 800 MW is secured by the company at the same tariff of ₹5.838/kWh. This was also applicable to the previous 800 MW capacity awarded.
Adani Power will supply power from a new 1,600 MW ultra-supercritical thermal power unit. This will be set up under the design, build, finance, own and operate model in Anuppur district of Madhya Pradesh.
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