Business News | Adani Power Bags 1,500 MW Power Contract from UP Government: UP Energy Minister
Get latest articles and stories on Business at LatestLY. Adani Power has won a contract to supply 1,500 megawatts in Uttar Pradesh, state's Minister of Energy AK Sharma told reporters on Tuesday.
Lucknow (Uttar Pradesh) [India], May 6 (ANI): Adani Power has won a contract to supply 1,500 megawatts from a thermal power plant in Uttar Pradesh, state's Minister of Energy AK Sharma told reporters on Tuesday.
The per unit cost of power would be Rs 5.383 per KwH, the minister said. The Adani Group company participated in the competitive bidding and its per unit quotation was 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.
Demand for energy has been rising in Uttar Pradesh, a state which is seeing a tremendous economic growth over the past years.
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The state crossed a peak power demand 30,000 MW last year, and it is expected to remain at that level this year too, the minister said.
Adani Power Limited (APL), a part of the diversified Adani Group, is one of the largest private thermal power producers in India.
It 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 the 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.
According to company information, the Adani Group company's consolidated power sale volume was at 95.9 BU in 2024-25, up by 20.7 per cent from 79.4 BU in 2023-24 due to robust power demand and higher operating capacity.
Consolidated continuing total revenues were higher by 10.8 per cent at Rs 56,473 crore in 2024-25 vs Rs 50,960 crore in 2023-24; supported by higher sales volumes, offset partially by lower tariff realisation. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)