Adani Power will set up 800 MW thermal power plant, got LOA from this state
Adani Power Limited (APL) has received LOA to supply power from a new 800 MW thermal plant to be developed in Madhya Pradesh. The Adani Group unit said in a statement that it has received LOA from MP Power Management Company Limited (MPPMCL). Adani Power emerged as the lowest bidder in a highly competitive bidding process, with the final price being Rs 5.838 per kWh. Under the contract, Adani Power will supply power from a new 800 MW thermal power unit to be set up in Madhya Pradesh under the design, build, finance, own and operate (DBFOO) model.
Adani Power will invest Rs 10,500 crore in Madhya Pradesh
Adani Power will invest Rs 10,500 crore on setting up the plant and related infrastructure. This unit will be operational within 54 months from the due date. Adani Power Chief Executive Officer S. B. Khyalia said, “Due to rapid economic growth, the demand for electricity in India is constantly increasing and hence it is important to invest in strong energy infrastructure. Adani Power is committed to securing India’s energy future in a sustainable manner by expanding capacity and adopting advanced technologies.”
The company’s shares closed with a gain of about 1 percent on Friday
On Friday, Adani Power shares closed at Rs 600.75 on the BSE with a gain of Rs 5.50 (0.92%). Yesterday, during trading, the company’s shares reached an intraday low of Rs 583.35 to an intraday high of Rs 603.00. Let us tell you that Adani Power shares are returning close to their 52 week high. The 52 week high of Adani Power shares on BSE is Rs 684.90, while its 52 week low is Rs 430.85. The current market cap of this Adani Group company is Rs 2,31,705.61 crore.
