Mumbai, Sep 13 (UNI) Adani Power Ltd (APL) announced on Saturday that it has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd. (BSPGCL) for supply of 2,400 MW of power from a greenfield ultra super critical plant to be set up at Pirpainti in Bhagalpur district of Bihar.
The company statement mentioned that APL will set up a 2,400 MW ultra supercritical power plant in Bihar at an investment of around Rs 26,482 crore.
The development came after a Letter of Award (LoA) was issued by BSPGCL to APL on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August, according to a company statement.
Adani Power won the project by offering the lowest supply rate at Rs 6.075 per KWh.
The company plans to invest approximately $3 billion to build the new plant (800 MW X 3) and its supporting infrastructure under the Design, Build, Finance, Own, and Operate (DBFOO) model.
The coal linkage for the power plant has been allocated under the SHAKTI Policy of the Government of India. The project will generate direct and indirect employment of around 10,000 people during the construction phase and around 3,000 people once the power plant begins operations after 60 months, according to the company statement.
Construction is set to start in the coming months, and both Adani Power and BSPGCL have committed to completing the project on time while following all environmental and safety regulations.
The project will play a key role in ensuring that Bihar has a steady supply of electricity in the years ahead, helping both industrial growth and daily power needs for people in the state, according to the statement.
