Shares of Adani Power Limited surged over 7% on Monday after the company announced it had secured a Letter of Award (LoA) from Uttar Pradesh Power Corporation Limited (UPPCL) for a long-term power supply contract. As per the revised exchange filing dated May 12, 2025, Adani Power will supply 1,500 MW of electricity to UPPCL over a 25-year period.
The supply will originate from a planned 2×800 MW (1,600 MW) thermal power project in Uttar Pradesh, developed under a competitive bidding framework. The contract, awarded through UPPCL’s standard tendering process, aligns with state procurement guidelines.
Though financial specifics of the order were not disclosed, Adani Power confirmed that the tariff would be governed by the bid terms. Importantly, the company clarified that the project falls under domestic procurement and does not involve any related party interest from Adani Group promoters.
The stock jumped as much as 7% intraday following the announcement, reflecting investor confidence in the company’s expanding portfolio of long-term power purchase agreements. The stock exchanges had previously advised the company to issue a revised disclosure after its initial announcement on May 10, which was complied with today.
The development strengthens Adani Power’s standing as a key private sector player in India’s thermal power sector, particularly in long-term, state-backed supply agreements.
