Adani Power signs PSA with Bihar government for supply of 2400 MW of power

Adani Power Ltd. (APL), India's largest private sector thermal power generator, today said it has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd. (BSPGCL) for supply of 2,400 MW of power from a greenfield ultra super critical plant to be set up at Pirpainti in Bhagalpur district of Bihar.

This is further to the LoA awarded by BSPGCL to APL, on behalf of North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL) in August. Adani Power won the project by offering the lowest supply rate at Rs 6.075 per KWh. The company plans to invest approximately $3 billion to build the new plant (800 MW X 3) and its supporting infrastructure under the Design, Build, Finance, Own, and Operate (DBFOO) model.

The coal linkage for the power plant has been allocated under the SHAKTI Policy of Government of India. The project will generate direct and indirect employment of ~10,000 - 12,000 during the construction phase and ~3,000 once in operation.

The company aims to fully commission the plant in 60 months.

Shares of Adani Power Limited was last trading in BSE at Rs. 648.65 as compared to the previous close of Rs. 624.45. The total number of shares traded during the day was 663306 in over 14306 trades.

The stock hit an intraday high of Rs. 650.05 and intraday low of 628.10. The net turnover during the day was Rs. 426171819.00.

Source : Equity Bulls

Keywords

AdaniPower INE814H01011 PSA BiharGovernment PowerSupply 2400MW