Adani Power Ltd. announced on Saturday that it has won a competitive bid to supply 1500 megawatt of thermal power to Uttar Pradesh.
The company will deliver electricity at an attractive rate of Rs 5.383 per unit from a newly planned 2x800 MW (1500 MW net) Ultra-supercritical power plant, which will be developed under the design, build, finance, own, and operate model in the state, according to an exchange filing on Saturday.
Following the Uttar Pradesh cabinet's approval of the project earlier this month, Adani Power will now proceed with signing a long-term power supply agreement with Uttar Pradesh Power Corp. Ltd., based on the letter of award received.
“We are happy to have won the competitive bid to supply 1,500 MW power to UP state and feel privileged to play a leading role in meeting the state's rapidly growing power demand," said S.B. Khyalia, chief executive officer at Adani Power.
"We plan to set up a modern and low emission Ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by fiscal 2030,” he added.
The demand for thermal power in Uttar Pradesh is projected to increase by approximately 11,000 MW by 2033-34, driven by industrialisation, urbanisation, and modernisation, the filings said.
The 1,500 MW order is part of the government's broader strategy to address this anticipated rise in energy needs.
This marks the second significant PSA bid secured by the company in the past year, following its success in September 2024, when it received a composite 6,600 MW LoI from Maharashtra State Electricity Distribution Company Ltd, it said.
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