The Uttar Pradesh Cabinet has approved a 25-year power purchase agreement (PPA) between Uttar Pradesh Power Corporation Limited (UPPCL) and Adani Power Limited (APL) for the supply of 1,600 megawatts of electricity. APL won the contract through a competitive bidding process held in October 2024, and the power will be delivered from a new thermal power plant to be developed in the state.

In a parallel development, Adani Saur Urja (LA) Limited, a wholly-owned subsidiary of Adani Green Energy, secured a contract to provide 1,250 megawatts of energy storage capacity through pumped hydro projects. The project, located in Sonbhadra district, is expected to be completed within six years and will operate under a 40-year agreement. The annual fixed cost for the project is set at Rs 7.65 million per megawatt, excluding taxes.

These developments support India's clean energy goals, providing integrated storage solutions for round-the-clock renewable power.

Financially, Adani Power reported a 21.4 per cent increase in consolidated continuing profit before tax at Rs 139.26 billion in FY25, up from Rs 114.70 billion in FY24. Total revenue rose 10.8 per cent to Rs 564.73 billion, driven by higher volumes despite lower tariff realisation. The company generated 102.2 billion units of power in FY25, a 19.5 per cent rise from FY24.

Source:Indo-Asian News Service (via NDTV)