Adani Power has received a Letter of Award (LoA) from Uttarakhand Power Corporation (UPCL) to supply 1,234 MW of thermal power under a long-term agreement lasting 25 years. The award followed the company’s selection as the successful bidder in UPCL’s tender, with the LoA issued on October 13, 2026.

The contract covers a net supply of 1,234 MW at the ex-bus level, supported by an installed capacity of 1,320 MW. The power supply agreement (PSA) will remain in force for 25 years and will operate according to the conditions set out in the LoA and the tender.

The award is subject to approval by the Uttarakhand Electricity Regulatory Commission (UERC) for adoption of the tariff under Section 63 of the Electricity Act, 2003. Adani Power disclosed the development in a regulatory filing, but the filing did not indicate when the tariff approval process would be completed.

Adani Power reported a 47.2 per cent year-on-year increase in net profit to Rs. 48.67 bn in Q1 FY27, while revenue rose 32.6 per cent to Rs. 193.22 bn. Power generation reached a record 31 bn units, and power sales increased 16.9 per cent year-on-year to 28.8 bn units, supported by higher electricity demand, increased operating capacity and new power purchase agreements.

The company, part of the Adani Group, is India’s largest private-sector thermal power producer. It generates and sells electricity to homes, businesses and industries, and is headquartered in Ahmedabad, Gujarat. Shares of Adani Power rose 2 per cent during intraday trading, although the stock was down 16.38 per cent over the previous three months and 27.11 per cent on a year-to-date basis.