The Adanis are set to wheel power to Bangladesh.
Adani Power Ltd (APL) on Friday said an 800 megawatt (mw) unit at its thermal plant in Jharkhand has started commercial operations.
The plant will supply power under a 25-year power purchase agreement (PPA) for a corresponding net capacity of 748mw to the Bangladesh Power Development Board.
“This is to inform unit 1 of 800mw capacity of the 2x800mw ultra-supercritical power project of Adani Power (Jharkhand) Ltd (APJL), situated in Godda, has achieved commercial operations,” the company said in a regulatory filing.
AJPL is a wholly-owned subsidiary of Adani Power. “APJL has started processing its claims under the PPA with effect from April 6, 2023,” it said.
The company did not disclose details about the PPA or the price at which electricity would be sold to Bangladesh.
Adani Power added that the second unit of the 1600mw project is also in an advanced stage of completion and expected to be commissioned soon.
The PPA was in the news after Bangladesh’s state-run power development board had reportedly sought to revise the agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive.
Earlier, there were reports that Bangladesh sought the price revision after it received a request from Adani Power about opening LCs in India to import the coal for the Jharkhand plant.
However, a local media report in Bangladesh had said Adani Power subsequently promised to supply electricity to the country at a reduced price in line with the generation costs in the country’s existing coal-fired plants.
Bangladesh’s Prothom Alo newspaper quoting an Adani official said the firm will import the coal for its plants on par with the rates existing power companies in Bangladesh pay for their coal.
Shares of Adani Power had closed at Rs 192.15 — a gain of Rs 2.10 or 1.10 per cent on the BSE on Thursday.
Adani Green
Leading bourses NSE and BSE on Thursday said Adani Green Energy will be moved to the first stage of the long-term additional surveillance measure framework from April 10.
On March 28, both exchanges had put Adani Green Energy under the second stage of the long-term ASM framework.
