The shares of Adani Power Ltd. surged over 4% on Monday with the stock trading Rs 153.25 apiece. The share price surged after Adani Power received a letter of award (LoA) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply of 1,600 MW of power from one of its upcoming ultra-supercritical thermal power projects.
The supply of power under the proposed 25-year Power Supply Agreement (PSA) is scheduled to commence from the financial year 2030-31, a company statement said.
With this development, Adani Power has now tied up long-term PSAs of 13.3 GW, out of its 23.8 GW under-implementation pipeline.
During FY25-26, APL has won five long-term PSA bids with a combined capacity of 10,400 MW. More than 95% of Adani Power's current operating capacity of 18.15 GW is now tied up under medium-to-long-term PSAs, while over 55% of its upcoming capacity of 23.8 GW is secured under 25-year PSAs.
The MSEDCL bid incorporates a pre-determined coal linkage, ensuring long-term fuel security and supporting reliable and cost-effective power supply.
Adani Power is undertaking India's largest private sector thermal power capex program, expanding its capacity from the current 18.15 GW to 41.87 GW by FY31-32. The LoA follows Adani Power's success in a bidding process, where the company emerged as the lowest-tariff bidder, offering power at a combined tariff of Rs 5.30/kWh.
Adani Power Share Price Today
Adani Power Share Price Today
Photo Credit: (Photo: NDTV Profit)
The scrip rose as much as 4.56% to Rs 153.25 apiece. This compares to a 0.34% decline in the NSE Nifty 50 Index. Total traded volume so far in the day stood at 21.43 times its 30-day average. The relative strength index was at 47.43.
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What Bernstein Is Saying
As per a Bernstein report, spot power prices in India are hitting the roof, driven by a sharp mismatch between demand and supply in the short-term power market. Despite India having nearly 20 GW of active gas-fired power generation capacity, these plants are operating at a subdued ~12% utilisation, limiting their ability to respond to peak demand.
On March 13, 2026, the spot power market witnessed severe stress, with 32 GW of unmet demand. Purchase bids stood at 35 GW, while sell bids were limited to just 3 GW, which showed the acute supply shortage. After this, Adani Green, NTPC, Adani Power and Jindal Power emerged as the top four sellers in the short-term power market, positioning them as key beneficiaries of elevated spot prices.
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(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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