Adani Power Secures Landmark Deal for Uttar Pradesh Energy Needs
Adani Power has secured a contract to supply 1,500 MW of electricity to Uttar Pradesh for 25 years. The agreement, approved by the state cabinet, includes a Power Purchase Agreement for thermal power. Adani's competitive bid was the lowest among contenders, ensuring a new plant in the state.
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In a significant development, Adani Power has been awarded a contract to supply 1,500 megawatts of electricity to the state of Uttar Pradesh. The agreement holds a duration of 25 years, with energy pricing locked at Rs 5.38 per unit, according to informed sources.
The Uttar Pradesh Cabinet has given its nod to the Power Purchase Agreement (PPA), establishing a strategic partnership between Uttar Pradesh Power Corporation Ltd (UPPCL) and Adani Power for the supply of thermal power over the long term, sources confirmed.
The process began when Uttar Pradesh issued a tender for 1,600 MW of thermal power, anticipating a heightened electricity demand of 10,795 MW by 2033-24. Adani Power's bid was the most cost-effective, including both fixed and variable charges, and a new power plant will be constructed in the state.
(With inputs from agencies.)
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