Adani Power on Thursday said it has received a Letter of Intent (LoI) to develop and operate 2,400 MW greenfield thermal power plant in Bihar at an investment of $3 billion.
India’s largest private sector thermal power generator won the bid from Bihar State Power Generation Company Ltd. (BSPGCL) to supply 2,274 MW power to North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL) from a 2,400 MW thermal power project — to be developed at Pirpainti in Bhagalpur District of Bihar.
Adani Power was the lowest bidder in a tightly contested tender process, with the final supply price of Rs 6.075 per KWh.
As part of the contract, the company will supply power from a greenfield 3×800 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 are pleased to 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 $3 billion, which is expected to further aid industrialisation in the state,” said S.B. Khyalia, Chief Executive Officer of Adani Power.
“Our plant will be an advanced, low-emission Ultra-supercritical one, and will supply dependable, competitively priced, and high-quality power to the state,” he mentioned.
The project is expected to generate direct and indirect employment of 10,000–12,000 during the construction phase and 3,000 once in operation.
The plant will receive fuel from the allocated coal linkage under the SHAKTI Policy of the Central government.
The company said it 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.
Adani Power, 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 12 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
