As per the terms of the agreement, APL will supply 2,274 MW power to North Bihar Power Distribution Company (NBPDCL) and South Bihar Power Distribution Company (SBPDCL) from the greenfield thermal power project that would to be developed at Pirpainti in Bhagalpur District of Bihar.
Adani Power was the lowest bidder in a tightly contested tender process, with the final supply price of Rs 6.075 per kilowatt-hour (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.
The plant will receive fuel from the allocated coal linkage under the SHAKTI Policy of Government of India.
S.B. Khyalia, chief executive officer of Adani Power, said: “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 nearly $3 billion, which is expected to further aid industrialization 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."
Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 18,110 MW spread across twelve power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
The company’s consolidated net profit declined 13.49% to Rs 3,384.86 crore in Q1 FY26 from Rs 3,912.79 crore posted in Q1 FY25. Revenue fell 5.66% year-on-year (YoY) to Rs 14,109.15 crore in Q1 FY26.
The scrip shed 0.81% to currently trade at Rs 562.30 on the BSE.