Ahmedabad: In a first-of-its-kind adoption of the greenshoe option in a thermal power tender in India, Adani Power Ltd (APL) on Thursday said it has been awarded a total of 1,600 MW capacity by MP Power Management Company Limited (MPPMCL) under the recently concluded tendering process.
India's largest private sector thermal power generator received a Letter of Award (LoA) from MPPMCL, awarding 800 MW additional capacity under the ‘Greenshoe Option’.Both the units (800MW X 2), in Anuppur district of Madhya Pradesh, will be commissioned within 60 months of the appointed date. The company will invest around Rs 21,000 crore towards setting up the plant and related infrastructure.
The project is expected to generate direct and indirect employment of 9,000–10,000 during the construction phase and 2,000 once in operation.According to the Adani Group company, this comes on the back of APL’s earlier success in winning an initial 800 MW capacity in the same bidding process.
This is the fifth major power supply order received by the company in the last 12 months, taking the total awarded capacity to 7,200 MW.“We are delighted that Adani Power has not only secured the initial 800 MW project in Madhya Pradesh but has also been awarded an additional 800 MW under the greenshoe option,” said S.B. Khyalia, Chief Executive Officer of Adani Power.“This reinforces our commitment to providing reliable, affordable, and sustainable power to the state and its people.
The project further strengthens our long-term partnership with Madhya Pradesh and highlights our dedication to supporting India’s energy security and economic growth,” Khyalia added.The additional capacity of 800 MW awarded is at the same tariff of Rs. 5.838/kWh, applicable to the earlier awarded 800 MW capacity.
Accordingly, APL will supply power from a new 1600 MW (800MW X 2) Ultra-supercritical thermal power unit, to be set up under the Design, Build, Finance, Own, and Operate (DBFOO) model.The company said it expects to execute the Power Supply Agreement (PSA) in due course with the state Discom.Adani Power is currently implementing 23.72 GW of capacity addition, which will take its overall generation capacity to 41.87 GW by 2031-32.
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