The way the electoral enthusiasts are seen increasing before the Bihar elections. Now, Asia’s second richest businessman Gautam Adani has also put a slight temper. Gautam Adani has played a big claim before the Bihar elections. Under this claim, Adani has made a deal with more than 26 thousand crore rupees with the Chief Minister of Bihar. Adani Power said on Thursday that it had received a letter of intent (LOI) from Bihar State Electricity Production Company (BSPGCL) to build and operate 2,400 MW of Greenfield Therman Power Plant in Bhagalpur district. The company said that more than three billion US dollars i.e. 26 thousand crore rupees will be invested on this project.
This is how the tender was found
Adani Power hopes that he will get the LOA (decision letter) in the scheduled time and after that the power supply agreement (PSA) will be done with the state power companies. The company of Adani Group said in a statement on Thursday that it has received a letter (LOI) from Bihar State Electricity Production Company Limited (BSPGCL) for 2,274 MW power supply to North Bihar Electricity Distribution Company Limited (NBPDCL) and South Bihar Electricity Distribution Company Limited (SBPDCL). Adani power was the lowest bidding company in the tender process with strict competition, with the final supply price of Rs 6.075 per kWh.
When will the plant be operational
Under the agreement, the company will supply electricity from a state -of -the -art power plant with a total capacity of 2400 MW with three units of 800 MW capacity. This plant will be set up under the design, construction, funding, ownership and operation (DBFOO) model. The first unit will be operational within 48 months from the due date and the last unit within 60 months from the due date. This project is expected to provide 10-12 thousand personnel and three thousand personnel directly and indirectly employment during the construction phase from this project.
Company officials statement
SB Khyalia, Chief Executive Officer of Adani Power said that we have won bids for the development and operation of the 2,400 MW thermal power project in Bihar. We will set up a new plant with an investment of US dollars, which is expected to further promote industrialization in the state. He said that the new plant will be an advanced, low -emitted state -of -the -art plant and will supply power to the state at a reliable, competitive price and high quality power.
Adani power shares rise
The special thing is that on Thursday, Shares of Adani Power are trading on the green mark. The company’s stock appeared trading at Rs 568 at 1 pm. Whereas during the business session, the company’s stock rose 1.25 per cent to Rs 573.95 at the day high. According to BSE data, the company’s stock was opened at Rs 563.80 with a slight decline. Which also went to the lower level of the day with 552.35 rupees. Currently, the company’s market cap is getting to see 2,19,074.13 crore rupees.