Adani Power Limited (APL) has assigned to Powerpulse Trading Solutions Limited (PTSL) all rights and obligations arising from the Letter of Award (LOA) issued by Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 2,500 megawatts (MW) of round-the-clock power. The assignment followed the receipt of requisite approvals and was recorded in a regulatory filing. The parties were identified in the filing as effecting the transfer of the LOA.

PTSL entered into a Power Purchase Agreement (PPA) with MSEDCL on 8 September 2026 in accordance with the LOA, the filing indicated. The LOA had been announced by APL on 2 April 2026 and contemplates supply under the PPA for 25 years from the Scheduled Commencement Date of Supply (SCD). The structure requires ongoing delivery obligations and performance-linked provisions.

MSEDCL had floated the tender in January 2026 to procure 2,500 MW of round-the-clock renewable power for 25 years through tariff-based competitive bidding. Four companies participated, offering a cumulative capacity of 6,250 MW against the tendered requirement of 2,500 MW, and the contract was awarded to Adani Power as the lowest bidder. Adani Power quoted Rs6.30/kWh in the initial financial bid, followed by Lalitpur Power Generation Company at Rs6.34/kWh, MB Power (Madhya Pradesh) at Rs6.48/kWh and Sterlite Grid 42 at Rs9.50/kWh.

The Maharashtra Electricity Regulatory Commission (MERC) approved the adoption of a tariff of Rs5.90/kWh in June 2026, the order showed. The project structure requires a minimum annual renewable energy traceability of 51 per cent alongside stringent supply commitments and penalties for non-performance. The PPA aligns with PTSL's stated competencies in multi-source energy aggregation, power portfolio management and supply optimisation and was described as expected to further strengthen the arm's portfolio.

The long-term nature of the arrangement and the supply profile mean the agreement forms a significant element of MSEDCL's procurement strategy. The assignment enables APL to transfer operational responsibility to PTSL while keeping contractual frameworks intact under the LOA and PPA. Observers noted the scale of the deal and its implications for renewable integration in the state.