Adani Power & AGEL win Assam LoA for Rs 63,000-C energy projects

Ahmedabad, Nov 14: Adani Power and Adani Green Energy — two flagship companies of the Adani Group — on Friday announced that they have received Letters of Award (LoA) from the Assam government for two transformative projects worth Rs 63,000 crore in the state.

Adani Power Ltd, India’s largest private-sector power generator, will invest Rs 48,000 crore to establish a 3,200 MW greenfield ultra-supercritical power plant in Assam.

Separately, Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, plans to invest Rs 15,000 crore to develop two Pumped Storage Plants (PSP) in the state with a combined capacity of 2,700 MW.

AGEL has received an LoA for 500 MW of energy storage capacity, which will be sourced from the above PSPs, according to the company’s statement.

The state-of-the-art thermal power plant and pioneering pumped storage facilities together represent a cumulative investment of Rs 63,000 crore in the state.

“The North-East is emerging as a vital frontier in India’s growth story, and we are proud to contribute to its transformation. Our 3,200 MW thermal power project and 2,700 MW PSP projects in Assam collectively represent not only the largest private-sector investment in the region but also firm steps toward energy security, industrial development, and job creation,” said Gautam Adani, Chairman of the Adani Group.

These landmark initiatives underscore the Adani Group’s strategic focus on accelerating the development of India’s northeastern region, aligning with Chairman Gautam Adani’s pledge in February this year to invest Rs 50,000 crore in the region’s progress and growth.

“These projects will not only energise Assam but also catalyse development across the entire northeastern corridor. We are honoured to contribute to the progress of Assam and the entire Northeast, and we look forward to building partnerships that uplift local communities and drive India’s energy transformation,” Gautam Adani added.

Adani Power emerged as the successful bidder, offering the lowest tariff of Rs 6.30 per kWh through a highly competitive bidding process. The company will set up an Ultra Super Critical plant under the Design, Build, Finance, Own and Operate (DBFOO) model. Coal linkage for the plant has been secured under the SHAKTI Policy of the Government of India.

The project is expected to generate direct and indirect employment for around 20,000 to 25,000 people during the construction phase and sustain around 3,500 jobs during the operations phase. It will be commissioned in a phased manner starting December 2030.

Adani Green Energy also emerged as the lowest bidder for 500 MW of energy storage capacity. The project will introduce advanced solutions for energy storage, grid stability, and peak-demand management, ensuring a reliable and resilient electricity supply. It will play a vital role in integrating renewable energy into the grid, supporting Assam’s march toward a greener future.

IANS