At 9:15 am IST on Friday, India's equity indexes opened on a muted tone, with the BSE Sensex losing 0.09% to 80,010.83 and the Nifty 50 falling 0.14% to 24,466.7 points.
Adani Power Ltd., the biggest private sector thermal power producer in India, revealed that Bihar State Power Generation Company Limited (BSPGCL) has granted it a Letter of Award (LoA) for a 2,400 MW thermal power project.
An earlier Letter of Intent released on August 7, 2025, was followed by the development, which was revealed on August 29, 2025.
The details of LoA are as follows:
In the Bhagalpur district of Bihar, a 2,400 MW (3X 800 MW) greenfield ultra-supercritical plant would be established at Village Pirpainti as part of the project. This project will be run by Adani Power using the Design, Build, Finance, Own, and Operate (DBFOO) approach. About $3 billion will be spent by the corporation to put up the plant and related infrastructure.
Under the LoA, Adani Power will provide long-term procurement of electricity for 25 years. BSPGCL awarded the LoA on behalf of North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL), the two state utilities that will ultimately receive the power. The next step in this process will be the signing of a Power Supply Agreement (PSA) between the entities.
Adani Power secured this project by emerging as the winner in a tariff-competitive Bidding process, offering the lowest supply price of ₹6.075 per KWh. The plant will source its fuel from an allocated coal linkage arranged by the utility under Para B(IV) of the SHAKTI Policy.
The project is expected to create approximately 10,000 to 12,000 direct and indirect employment opportunities during the construction phase, and around 3,000 jobs once the plant is operational.
This expansion coincides with India's anticipated sharp increase in electricity consumption, which is predicted to peak at about 400 GW by 2031–2032 and surpass 700 GW by 2047. The government plans to build about 100 GW of thermal capacity by 2035, and thermal power is expected to continue to be essential for energy security by supporting base-load and grid balancing.
With twelve plants spread across several Indian states and a 40 MW solar power plant in Gujarat, Adani Power currently has an installed thermal power capacity of 18,110 MW. The company wants to use creativity and technology to help India become a power-surplus country.
Adani Power's share price jumped over 1% in the early trade following news of receiving a 2,400 MW thermal power plant order. As of 10:19 am, the share price was trading at ₹584.35 per share, down by 1.78%.
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