Adani Power announced on Thursday that it had obtained a Letter of Intent (LoI) to invest $3 billion in the development and operation of a 2,400 MW greenfield thermal power project in Bihar.
North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL) will receive 2,274 MW of power from a 2,400 MW thermal power project that will be built at Pirpainti in the Bhagalpur District of Bihar, thanks to the bid that India’s largest private sector thermal power generator won from Bihar State Power Generation Company Ltd. (BSPGCL).
In a very competitive bidding procedure, Adani Power came in last with a final supply price of Rs 6.075 per KWh.
A greenfield 3×800 MW Ultra-supercritical power plant, to be established under the Design, Build, Finance, Own, and Operate (DBFOO) model, will provide power as part of the contract.
Within 48 months of the scheduled date, the first unit will be put into service, and the last one within 60 months.
The bid to build and run a 2,400 MW thermal power facility in Bihar was won, and we are happy about it. With a $3 billion investment, we will establish a new greenfield facility that will help the state’s industrialization even more,” Adani Power CEO S.B. Khyalia stated.
“We will provide the state with reliable, competitively priced, and high-quality power through our advanced, low-emission Ultra-supercritical plant,” he said.
It is anticipated that the project will create 10,000–12,000 direct and indirect jobs during development and 3,000 after it is operational.
Fuel for the plant will come from the designated coal linkage under the Central government’s SHAKTI Policy.
According to the corporation, the Power Supply Agreement (PSA) with the State Utilities would be signed after it receives the LoA (Letter of Award) in due order.
The biggest private thermal power producer in India is Adani Power, which is a component of the Adani portfolio. In addition to a 40 MW solar power plant in Gujarat, the corporation has an installed thermal power capacity of 18,110 MW distributed across 12 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu.
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