Adani Power signs SPPAs with Haryana DISCOMs

Adani Power Limited ("the Company") has signed SPPAs with Dakshin Haryana Bijli Vitran Nigam Limited and Uttar Haryana Bijli Vitran Nigam Limited (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 (3x660 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 2x660 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.

Shares of Adani Power Limited was last trading in BSE at Rs. 153.75 as compared to the previous close of Rs. 146.45. The total number of shares traded during the day was 501366 in over 2571 trades.

The stock hit an intraday high of Rs. 153.75 and intraday low of 152.50. The net turnover during the day was Rs. 77072234.00.

Source : Equity Bulls

Keywords

AdaniPower INE814H01011 HaryanaPowerDiscoms SPPA