Adani Power Limited (APL) has received an LOA for supply of electricity from the 800 MW new thermal plant to be developed in Madhya Pradesh. The unit of Adani Group said in a statement that it has received LOA from MP Power Management Company Limited (MPPMCL). Adani Power emerged as the lowest bidding company in the highly competitive bidding process, with a final value of Rs 5.838 per kWh. Under the contract, Adani Power will supply electricity from a new 800 MW thermal power unit to be established under the design, construction, finance, ownership and operation (DBFO) model in Madhya Pradesh.
Adani power will invest Rs 10,500 crore in Madhya Pradesh
The Adani will invest Rs 10,500 crore on the power plant and the establishment of the related infrastructure. This unit will be operational within 54 months from the due date. Adani Power Chief Executive Officer S.K. B. Khyalia said, “Due to rapid economic growth, the demand for electricity in India is continuously increasing and hence it is necessary to invest in strong energy infrastructure. Adani is committed to permanently secure India’s energy future by adopting power capacity expansion and advanced techniques.
Company shares closed with a gain of about 1 percent on Friday
On Friday, Adani Power shares closed at Rs 600.75 with a gain of Rs 5.50 (0.92%) on BSE. Yesterday, during the trading, the company’s shares reached Intrade Low of Rs 583.35 to Intrade High of Rs 603.00. Let us tell you that Adani Power shares are returning close to their 52 weeks high. Adani Power shares on BSE are 52 weeks high 684.90 rupees, while its 52 week is Rs 430.85. The current market cap of this company of Adani Group is Rs 2,31,705.61 crore.
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