Adani Power has received a Letter of Intent from Bihar State Power Generation Company to develop and operate a 2,400 MW greenfield thermal power plant in Bhagalpur, Bihar.
The power will be supplied to North and South Bihar power distribution companies from a 3x800 MW ultra-supercritical plant.
Adani Power emerged as the lowest bidder with a final power supply price of ₹6.075 per kWh and will use coal from a SHAKTI policy-linked allocation.
The project is expected to create 10,000–12,000 jobs during construction and 3,000 in operation.
Adani Power on Thursday said it has received a letter of intent (LoI) from Bihar State Power Generation Company to develop and operate a 2,400 megawatt greenfield thermal power plant in Bhagalpur District of Bihar at an investment of USD 3 billion.
The company expects to receive the LoA (Letter of Award) in due course and subsequently the Power Supply Agreement (PSA) will be executed with the state utilities.
The LoI has been awarded from Bihar State Power Generation Company Ltd (BSPGCL) to supply 2,274 MW energy North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL), the Adani Group company said in a statement on Thursday.
Adani Power was the lowest bidder in the tightly-contested tender process, with the final supply price of ₹6.075 per KWh.
As part of the contract, the company will supply power from a greenfield 3x800 MW Ultra-supercritical power plant, to be set up under the Design, Build, Finance, Own, and Operate (DBFOO) model.
The first unit will be commissioned within 48 months of the appointed date, and the last one within 60 months of the appointed date.
"We have won the bid to develop and operate a 2,400 MW thermal power project in Bihar. We will set up a new greenfield plant with an investment of USD 3 billion, which is expected to further aid industrialization in the state," said S B Khyalia, Chief Executive Officer of Adani Power.
He said the new plant will be an advanced, low-emission ultra-supercritical and will supply dependable, competitively priced, and high-quality power to the state.
The plant will receive fuel from the allocated coal linkage under the SHAKTI Policy of Government of India.
The project is expected to generate direct and indirect employment of 10,000-12,000 personnel during the construction phase and 3,000 once in operation.
Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India.
The company has an installed thermal power capacity of 18,110 MW spread across twelve power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
