Gautam Adani's company gets BIG 1500 MW power contract from this state, not Gujarat, Maharashtra

Indian billionaire Gautam Adani's firm Adani Power has bagged yet another big contract. The company has won a contract to supply 1,500 megawatts from a thermal power plant in Uttar Pradesh, the State's Minister of Energy AK Sharma told reporters on Tuesday, ANI reported. The per unit cost of power would be Rs 5.383 per kWh, the minister said. The Adani company is one of the largest private thermal power producers in India. It is a part of the diversified Adani Group. The company has a market cap of Rs 2.07 lakh crore, as of May 6.

The Adani Group company participated in the competitive bidding, and its per unit quotation was the lowest amongst the participating companies, the minister said. "We decided to purchase a total of 1500 MW (ex-bus) power from a 2x800 MW (1600 MW) thermal power project based on competitive bidding. Under this, seven companies came forward and participated in the bidding processes... Adani Power Ltd has won a contract to supply 1500 megawatts from a thermal power plant in the northern state of Uttar Pradesh at Rs. 5.383 per unit," AK Sharma told reporters in Lucknow.

Energy demand has been rising in Uttar Pradesh, a state which is seeing tremendous economic growth over the past years. The state crossed a peak power demand of 30,000 MW last year, and it is expected to remain at that level this year too, the minister said.

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Adani Power has a power generation capacity of 17,510 MW, comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, and a 40 MW solar power project in Gujarat, as per its website. On April 30, Adani Power Limited reported that it has generated 102.2 Billion Units of power in the just-concluded financial year 2024-25, up by 19.5 per cent from 85.5 BU in 2023-24, the company's earnings results released Wednesday showed.

(With inputs from ANI)