Adani Power touches roof on inking SPPAs with Haryana DISCOMs

Adani Power is currently trading at upper limit of Rs. 169.45, up by 8.05 points or 4.99% from its previous closing of Rs. 161.40 on the BSE.

adani powers arm receives loa for supply of 295 mw power
Adani Power

The scrip opened at Rs. 169.45 and has touched a high and low of Rs. 169.45 and Rs. 169.45 respectively. So far 213109 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 432.80 on 22-Aug-2022 and a 52 week low of Rs. 115.50 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 169.45 and Rs. 132.55 respectively. The current market cap of the company is Rs. 65355.83 crore.

The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 12.88% and 12.15% respectively.

Adani Power has signed Supplemental Power Purchase Agreements (SPPAs) with Dakshin Haryana Bijli Vitran Nigam and Uttar Haryana Bijli Vitran Nigam (collectively Haryana DISCOMs) in respect of its two existing Power Purchase Agreements of net contracted capacity of 712 MW each (1566 MW in aggregate at generation end), which is being supplied from the Phase-IV 1980 MW (3×660 MW) capacity of the 4620 MW power plant at Mundra, Gujarat.

Under the terms of the SPPAs, the net capacity contracted with Haryana DISCOMs has been revised to 600 MW each, or 1200 MW in aggregate (1320 MW in aggregate at generation end), as delivered, considering availability of domestic coal linkage. Further, the Haryana DISCOMs will pay quoted energy charges for power generated from domestic coal under long-term Fuel Supply Agreement, which shall continue to be proportionate to previous Generation end capacity of 1566 MW, while for power consumed beyond the domestic coal materialisation and availability, energy charge will be based on imported coal price linked to CERC escalation index.

This development will thus give Haryana access to full capacity of 2×660 MW Units on exclusive basis and will allow the Company to schedule power supply from the third Unit of Phase-IV to other procurers, which will be pursued through bid opportunities in next few months.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.

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