Adani Power secures LoA for total 1,600 MW capacity from MPPMCL, shares rise nearly 3%

Adani Power is working on India’s largest private sector capex programme to meet the country’s rising base load demand. At present, it runs 12 thermal power plants with an operating capacity of 18.15 GW, and it is targeting a total generation capacity of 41.87 GW by 2031-32. Adani Power shares have surged nearly 2.9% to touch an intraday high of ₹653 apiece on the National Stock Exchange (NSE). The counter opened at ₹638.50, up from the previous close of ₹634.45. The rise in the share price comes after the company, in an exchange filing, said that it has received an additional Letter of Award (LoA) from MP Power Management Company Ltd (MPPMCL) to supply 800 MW from its forthcoming ultra-supercritical thermal project in Anuppur, Madhya Pradesh. The plant will be developed on a design, build, finance, own and operate (DBFOO) basis, with fuel sourced through coal linkage allocated under the SHAKTI policy. At the time of writing this article, shares of Adani Power are trading 1.92% higher at ₹646.75 apiece on the National Stock Exchange (NSE). The current market capitalisation of the company stands at ₹2,50,508.18 crore. The group firm had earlier, on August 29, 2025, secured an LoA for 800 MW from MPPMCL, taking the total awarded capacity for the Anuppur project to 1,600 MW. Both units are scheduled to be commissioned within 60 months of the appointed date. The company estimates the plant and associated infrastructure will require around ₹21,000 crore of investment. The newly awarded 800 MW will be supplied at the same tariff of ₹5.838 per kWh as the earlier allotment. Commenting on the development, the Chief Executive Officer of Adani Power, S.B. Khyalia said, “We are delighted that Adani Power has not only secured the initial 800 MW project in Madhya Pradesh but has also been awarded an additional 800 MW under the greenshoe option. This reinforces our commitment to providing reliable, affordable, and sustainable power to the state and its people. The project further strengthens our long-term partnership with Madhya Pradesh and highlights our dedication to supporting India’s energy security and economic growth.” Adani Power is working on India’s largest private sector capex programme to meet the country’s rising base load demand. At present, it runs 12 thermal power plants with an operating capacity of 18.15 GW, and it is targeting a total generation capacity of 41.87 GW by 2031-32. In September 2024, the company, along with Adani Green Energy, received the LoI for a combined 6,600 MW order from Maharashtra, which included 5,000 MW solar and 1,600 MW thermal supply. Later, in May 2025, it was awarded the LoA by the Uttar Pradesh government for 1,600 MW from a greenfield plant. In August 2025, the Bihar government granted the LoA for 2,400 MW from a new plant, while just last month, the Madhya Pradesh government allocated 800 MW, which was later doubled to 1,600 MW after MPPMCL exercised the greenshoe option. The stock has rallied 6.83% in the last 5 days. On the other hand, the shares of Adani Power have advanced 9.08% in the last month and have zoomed 26.99% in the last 6 months. Adani Power Q1 results: Adani Power posted a 15.5% decline in its consolidated net profit at ₹3,305 crore for the quarter ended June 30 of the financial year 2025-26 on account of lower merchant tariffs and elevated operating expenses following acquisitions. The company had clocked a net profit of ₹3,913 crore in the same quarter of the previous fiscal year. The Adani group firm’s total revenue from operations also dipped 5.6% year-on-year (YoY) to ₹14,109 crore in Q1 FY26 as compared to ₹14,956 crore in the corresponding quarter last year. The decline came primarily due to lower merchant tariff realisation and import coal prices year-on-year, the firm said.