Adani Power to build $3 bn thermal plant in Bihar after winning 2,274 MW supply contract
Adani Power Ltd. on Thursday announced that the company has secured a Letter of Intent (LoI) from Bihar State Power Generation Company Ltd. (BSPGCL) to develop and supply 2,274 MW of electricity to the state from a proposed 2,400 MW thermal power project in Bhagalpur district. The said plant will be set up in Pirpainti village at an investment of around $3 billion, the company said. The power will be distributed to North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL), the company said in a statement on Thursday.The LoI was issued following a bidding process, where Adani Power said it emerged as the lowest bidder with a final supply tariff of Rs 6.075 per KWh. The electricity will be sourced from a greenfield 3x800 MW Ultra-supercritical thermal plant to be developed under the Design, Build, Finance, Own, and Operate (DBFOO) model.“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 industrialization in the state. Our plant will be an advanced, low-emission Ultra-supercritical one, and will supply dependable, competitively priced, and high-quality power to the state,” said S.B. Khyalia, Chief Executive Officer of Adani Power.The first unit of the project is scheduled to be commissioned within 48 months of the appointed date, with the final unit coming online within 60 months.Fuel for the power plant will be supplied through a coal linkage granted under the Government of India’s SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) policy.According to Adani Power, the project will generate an estimated 10,000–12,000 jobs during the construction phase and approximately 3,000 jobs once the plant is operational.
The company expects to receive the formal Letter of Award (LoA) soon, after which a Power Supply Agreement (PSA) will be signed with the state utilities.
