Adani Power Bags 1600 MW MP Project, Invests Rs 21000 Cr

New Delhi, Sep 11 (PTI) Adani Power on Thursday said it has secured 1,600 MW ultra-supercritical thermal power project from MP Power Management Company and the company will invest Rs 21,000 crore to set up the plant and related infrastructure.

Adani Power received a letter of award (LoA) on Thursday from MPPMCL, awarding 800 MW additional capacity under 'Greenshoe Option', a company statement said.

According to the statement, Adani Power Ltd (APL), India's largest private sector thermal power generator, has been awarded a total of 1,600 MW capacity by MP Power Management Company Ltd (MPPMCL) under the recently concluded tendering process.

This comes on the back of APL's earlier success in winning an initial 800 MW capacity in the same bidding process.

This is the fifth major power supply order received by the company in the last 12 months, taking the total awarded capacity to 7,200 MW.

This additional capacity of 800 MW awarded is at the same tariff of Rs 5.838/kWh applicable to the earlier awarded 800 MW capacity.

Accordingly, APL will supply power from a new 1,600 MW (800MWx2) ultra-supercritical thermal power unit, to be set up under the design, build, finance, own, and operate (DBFOO) model, in Anuppur district of Madhya Pradesh.

Both units will be commissioned within 60 months of the appointed date. The company will invest around Rs 21,000 crore towards setting up the plant and related infrastructure.

This development marks a first-of-its-kind adoption of the greenshoe option in a thermal power tender in India.

This innovative inclusion of a greenshoe mechanism in coal-based power procurement will help Madhya Pradesh in meeting its ever-growing electricity demand owing to increased industrialisation and urbanisation, enhancing energy security for the state.

"We are delighted that Adani Power has not only secured the initial 800 MW project in Madhya Pradesh but has also been awarded an additional 800 MW under the greenshoe option," Adani Power Chief Executive Officer S B Khyalia stated.

The coal linkage for the power plant has been allocated under the SHAKTI Policy of Government of India.

The project is expected to generate direct and indirect employment of 9,000-10,000 people during the construction phase and 2,000 once in operation.

The company expects to execute the power supply agreement (PSA) in due course with the state discom.

Adani Power has a current operating capacity is 18.15GW from 12 thermal power plants and is aiming to achieve overall generation capacity of 41.87 GW by 2031-32.

The company has an installed thermal power capacity of 18,110 MW spread across 12 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.