Gautam Adani-backed Power Company Secures Rs 10,500 Crore 800 MW Thermal Project in Madhya Pradesh

Adani Power Limited, India’s largest private thermal power generator, has received a Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL) for setting up an 800 MW Ultra-supercritical thermal power project in Anuppur, Madhya Pradesh. This move aims to address the state’s rising electricity demand amid rapid industrial growth and urban expansion.

The project will follow a Design, Build, Finance, Own, and Operate (DBFOO) model. Adani Power will be responsible for execution and operations, with coal supply assured through a linkage arranged by MPPMCL under the Government of India’s SHAKTI Policy. The company won the project by quoting a tariff of Rs 5.838 per unit (KWh), emerging as one of the lowest bidders in the competitive process.

Adani Power plans to invest around Rs 10,500 crore in the project, which includes plant setup and associated infrastructure. The commissioning timeline has been fixed at 54 months from the Appointed Date. The company will finalize a Power Supply Agreement (PSA) with the state distribution company (Discom) shortly.

The Anuppur thermal project is expected to significantly strengthen Madhya Pradesh’s energy infrastructure. According to Mr. S.B. Khyalia, CEO of Adani Power, the plant will play an important role in providing reliable and affordable power to households and businesses, supporting India’s energy security goals.

Apart from electricity generation, the project is likely to create employment opportunities. During construction, the plant could generate direct and indirect jobs for 6,000–7,000 individuals, while around 1,000 people will be employed once operations begin.

This LoA represents the fourth major win for Adani Power in the last 12 months. Earlier, in September 2024, Adani Power and Adani Green Energy secured a 6,600 MW power supply order from Maharashtra. In May 2025, the company received an LoA from Uttar Pradesh for 1,600 MW, and in August 2025, it secured another from Bihar for 2,400 MW.

Adani Power currently operates 18,110 MW of installed thermal power capacity across 12 plants in India, along with a 40 MW solar power project in Gujarat. The company remains focused on strengthening India’s power supply through technology, innovation, and competitive project execution.

About the Company

As the largest private thermal power producer in India, Adani Power (APL) operates with a total installed capacity of 18,110 MW across twelve thermal power plants and one 40 MW solar plant. The company's facilities are located in multiple states, including Gujarat, Maharashtra, Karnataka, and Rajasthan. Adani Power leverages technology and a team of experts to help transform India into a power-surplus nation, with the goal of providing affordable and reliable electricity nationwide.

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The Board of Directors of the company approved the sub-division/ bonus-stock-split">stock split of the existing 1 equity share of the company having a face value of Rs 10 each, fully paid-up, into 5 equity shares having a face value of Rs 2 each, fully paid-up, subject to approval of the shareholders of the company.

The company has a market cap of over Rs 2 lakh crore and has delivered good profit growth of 65.3 per cent CAGR over the last 5 years. The shares of the company have a PE of 18x, an ROE of 26 per cent and an ROCE of 23 per cent. The stock is up by 40 per cent from its 52-week low of Rs 430.85 per share and has given multibagger returns of over 1,400 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.