Ahmedabad: Adani Power Ltd said on Thursday that it has received a Letter of Intent (LoI) from Bihar State Power Generation Company Ltd (BSPGCL) to supply 2,274 MW power to North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) from a 2,400 MW thermal power project to be developed at Pirpainti in Bhagalpur district of Bihar.
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Adani Power was the lowest bidder in a tightly contested tender process, with the final supply price of Rs 6.075 per KWh. "As part of the contract, the Company will supply power from a greenfield 3x800 MW Ultra-supercritical power plant, to be set up under the Design, Build, Finance, Own, and Operate (DBFOO) model. The first unit will be commissioned within 48 months of the appointed date, and the last one within 60 months of the appointed date," said Adani Power in a statement on Thursday.
“We are pleased to have won the bid to develop and operate a 2,400 MW thermal power project in Bihar. We will set up a new greenfield plant with an investment of ~USD3 billion, which is expected to further aid industrialisation in the state. Our plant will be an advanced, low-emission Ultra-supercritical and will supply dependable, competitively priced, and high-quality power to the state,” stated SB Khyalia, Chief Executive Officer of Adani Power.
The plant will receive fuel from the allocated coal linkage under the Shakti policy of the government. The project is expected to generate direct and indirect employment of ~10,000 – 12,000 during the construction phase and ~3,000 once in operation, said the company.
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The company expects to receive the LoA (Letter of Award) in due course and subsequently, the Power Supply Agreement (PSA) will be executed with the state utilities.