Adani Power share price rises 7% on 1500 MW Thermal Power supply agreement in the state of Uttar Pradesh

Stock Market Today: Adani Power share price gained 7% in the morning trades on Monday as it announced Receipt of Letter of Award for 1500 MW Power Supply Agreement in the state of UP (Uttar Pradesh)

Thermal Power supply agreement details

Adani Power release intimated the exchanges on 10 May 2025 that Adani Power Limited has received a Letter of Award (“LOA”) from Uttar Pradesh Power Corporation Limited (“UPPCL”) for procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years.

Adani power said that the Award was secured following a competitive bid submission process and as per the provisions of the tender floated by UPPCL.

While the Supply Contract is for a period of 25 years, the Adani power said that Under the terms of the contract, the company would provide electricity from from a greenfield 2x800 MW (1500 MW net) Ultra-supercritical power plant to be set up in the state using the Design, Build, Finance, Own, and Operate (DBFOO) model at a very competitive rate of ₹5.383 per unit.

The demand for thermal power in Uttar Pradesh is expected to increase by around 11,000 megawatts by 2033–2034 as a result of urbanization, industrialization, and modernization, as per the company. The government's initiative to satisfy that future need includes this 1,500 MW procurement.

Mr. S.B. Khyalia, Chief Executive Officer, Adani Power said that Adani Power would invest ~$2 billion in setting up the plant and related infrastructure. The project is expected to generate direct and indirect employment of ~8,000-9,000 during the construction phase and ~2,000 once in operation.

Adani Power plans to set up the state-of-the-art, low-emission ultra-supercritical plant in Uttar Pradesh with the goal of providing reliable and high-quality power by FY30

Adani Power Share price movement

Adani power share price opened at ₹545 and thereafter scaled a intraday high of ₹552, which meant gains of 7% during the morning trades on Monday.

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