Adani Power has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd. (BSPGCL) for supply of 2,400 MW. The power will be supplied from a 2,400 MW greenfield Ultra-supercritical thermal power plant to be set up in Pirpainti, Bhagalpur, Bihar.
The development comes after Adani Power received a Letter of Letter of Award (LoA) for 25 Years long term procurement of electricity from BSPGCL. BSPGCL awarded the LoA to APL on behalf of North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL), the two state utilities. Earlier in August, the company had received the Letter of Interest for the power purchase deal.
The power plant project, valued at approximately $3 billion, will supply 2,274 MW of power to North and South Bihar Power Distribution Companies. Adani Power won the contract through a competitive bidding process, offering the lowest tariff of Rs 6.075 per kWh.
The plant, to be developed under the Design, Build, Finance, Own, and Operate (DBFOO) model, will utilise advanced low-emission technology and coal linkage under the SHAKTI Policy. The coal linkage for the power plant has been allocated under the SHAKTI Policy of Government of India.
The first 800 MW unit is planned for commissioning within 48 months, with full operations within 60 months. Three units of 800 MW will be built under the project. The project is expected to create around 12,000 jobs during construction and 3,000 during operation, boosting local employment.
