Adani Power on Wednesday announced the receipt of a Letter of Award for a project in Uttarakhand after being declared as a successful bidder.
In a regulatory filing issued on October 14, Adani Power said that it received a Letter of Award (LoA) from Uttarakhand Power Corporation Limited (UPCL) under a long-term Power Supply Agreement, upon the company being declared as the successful bidder in terms of the tender invited and issued by UPCL.
The contract award is for ex-bus net supply of 1,234 MW (1,320 MW installed capacity) of thermal power.
The power supply under the PSA will be for a period of 25 years, Adani Power said.
The LOA is subject to Uttarakhand Electricity Regulatory Commission's approval for the adoption of tariff under Section 63 of the Electricity Act, 2003, it added.
Adani Power Share Price Performance
Adani Power share price has rallied 26% this year so far, while it has jumped 48% in two years. The stock has delivered multibagger returns of 174% in three years, and has surged by a staggering 736% over the past five years.
At 11:25 AM, Adani Power share price was trading 0.75% higher at Rs 187.35 apiece on the BSE.
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