Adani Power Ltd., India’s largest private sector thermal power producer, has secured a contract to supply 1,500 MW (net) of thermal power to the state of Uttar Pradesh. The project was awarded through a competitive bidding process and will operate under the Design, Build, Finance, Own, and Operate (DBFOO) model.
As part of the agreement, Adani Power will supply electricity at a tariff of ₹5.383 per unit from a planned greenfield ultra-supercritical power plant. The 2×800 MW plant (1,500 MW net capacity) will be developed within Uttar Pradesh. This follows recent approval by the Uttar Pradesh cabinet.
The company is expected to sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd. (UPPCL), based on the Letter of Award (LoA) received.
Adani Power will invest approximately $2 billion in setting up the power plant and associated infrastructure. The construction phase is projected to create 8,000–9,000 direct and indirect jobs, with around 2,000 jobs anticipated during the operational phase.
The plant is expected to begin operations by FY30. This development comes amid a projected increase in Uttar Pradesh’s thermal power demand by about 11,000 MW by 2033–34, driven by ongoing industrialization, urbanization, and infrastructure growth.
This marks the second major PSA secured by Adani Power in the last year. In September 2024, the company received a Letter of Intent for a 6,600 MW supply (including 1,600 MW thermal and 5,000 MW solar) from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL), which has since been converted into a PSA.
