Adani Power Secures 25-Year Deal to Supply 1,500 MW to Uttar Pradesh
Adani Power has signed a long-term power purchase agreement (PPA) with the Uttar Pradesh Power Corporation Limited (UPPCL) to supply 1,500 megawatts (MW) of electricity at a rate of ₹5.383 per unit for 25 years. The contract was awarded following a competitive bidding process, with seven companies participating. The power will be sourced from a new 1,600 MW (2×800 MW) thermal power project to be developed within the state.
Uttar Pradesh’s cabinet approved the agreement on Tuesday, aiming to secure energy supply for the state’s projected future demand. “We decided to purchase a total of 1,500 MW (ex-bus) power from a thermal power project based on competitive bidding,” said State Energy Minister A K Sharma. The tender, issued in October 2024, was part of a broader initiative to meet the state’s estimated need for an additional 10,795 MW of thermal power by 2033–34.
Adani Power’s bid included a fixed charge of ₹3.727 per unit and a fuel charge of ₹1.656 per unit, making it the lowest overall bid in both components of the pricing. Despite the announcement, shares of Adani Power closed 3.45% lower at ₹537 on Tuesday, while the broader Sensex ended the day down 0.19% at 80,641.07 points.
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