ADANI POWER WINS CONTRACT FROM UTTARAKHAND POWER CORPORATION

has secured a Letter of Award (LoA) from Uttarakhand Power Corporation Ltd (UPCL) for supply of 1,234 MW thermal power. The company will supply this from a plant with 1,320 MW of installed capacity. The contract was awarded after Adani Power emerged as the successful bidder in a competitive tender process conducted by UPCL. Under the terms of the award, the long-term Power Supply Agreement (PSA) will span a period of 25 years. This award follows another major development last week wherein the company had signed a shareholders' agreement with Bhutan's Druk Green Power Corp to jointly develop the 770 MW Chamkharchhu-I Hydroelectric Project. Under a 49:51 equity split, the two companies would build the facility in Bhutan's Zhemgang District, using a Build, Own, Operate and Transfer model.