New Delhi, May 10 – Adani Power has announced it has won a major contract to supply 1,500 megawatts (MW) of electricity to Uttar Pradesh through a newly planned ultra-supercritical thermal power plant in the state. The project represents an investment of USD 2 billion and aligns with the state's growing energy requirements.
According to a company statement, the bid win follows the recent approval by the Uttar Pradesh Cabinet, enabling Adani Power to enter into a long-term power supply agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) under a Letter of Award received on Saturday.
Ultra-Supercritical Greenfield Project under DBFOO Model
The planned power plant, which will have a capacity of 2x800 MW (net 1,500 MW), will be established under the Design, Build, Finance, Own, and Operate (DBFOO) model. Adani Power, India's largest private sector thermal power producer, will supply electricity at a competitive tariff of ₹5.383 per unit.“We are happy to have won the competitive bid to supply 1,500 MW power to UP and feel privileged to play a leading role in meeting the state's rapidly growing power demand,” said S B Khyalia, Chief Executive Officer of Adani Power.
Khyalia added that the power plant will be a state-of-the-art facility with low emissions, aiming to start supplying power by FY2030.
Employment and Economic Impact
The upcoming project is expected to create significant employment opportunities—direct and indirect jobs for 8,000 to 9,000 individuals during the construction phase and 2,000 during its operational phase.With Uttar Pradesh’s thermal power demand projected to rise by 11,000 MW by 2033-34 due to increasing industrialisation, urbanisation, and infrastructure development, this project is seen as a strategic step toward meeting future energy needs.
Part of a Broader Growth Strategy
This marks Adani Power's second major power supply agreement win in the last year. In September 2024, the company secured a Letter of Intent from Maharashtra State Electricity Distribution Company Ltd for a composite 6,600 MW power supply—1,600 MW thermal and 5,000 MW solar—which has since been converted into a power supply agreement.Adani Power currently operates 17,510 MW of installed thermal power capacity across eleven locations in India, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu. It also runs a 40 MW solar power plant in Gujarat.