Latest news with #S.B.Khyalia
India.com
10-07-2025
- Business
- India.com
Masterstroke by Gautam Adani, acquires Reliance Power's former subsidiary for massive Rs 40000000000, stock sees rise of…, Adani Power now plans to…
Gautam Adani (File) New Delhi: In a major development, the shares of Adani Power rose nearly 3 percent in opening trade on Tuesday. This comes after Adani Group's power arm managed to successfully complete the acquisition and implementation of the resolution plan of Vidarbha Industries Power Ltd (VIPL). According to the company, the acquisition was completed for Rs 4000 crore. It is important to note that the acquired asset, a 2×300 MW domestic coal-based power plant, is located in Butibori, Nagpur district, Maharashtra. Adani Power shares rose by as much as 2.56% to Rs 612 on the BSE, while its market capitalisation climbed to Rs 2.35 lakh crore. The Adani Group stock opened higher at Rs 603 against the previous closing price of Rs 596.70 apiece. 'The acquisition of VIPL marks a key milestone in our strategy to unlock value through the turnaround of stressed assets. As we expand our portfolio, we remain committed to India's vision of 'Electricity for All' by delivering reliable and affordable base-load power to support sustainable economic growth,' said S.B. Khyalia, CEO, Adani Power. Vidarbha Industries Power Limited: Vidarbha Industries Power is a former subsidiary of Reliance Power The company was undergoing the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18, 2025, the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Adani Power's resolution plan The plan was subsequently implemented on July 7, 2025. Reliance Power, controlled by Anil Ambani, had exited VIPL after pledging all its shares to CFM Asset Reconstruction Private Limited (CFM ARC), an asset reconstruction company Here are some of the key details: Adani Power's operational capacity rises to 18,150 MW after the acquisition. The company has released a statement stating that they are aggressively pursuing further expansion through both brownfield and greenfield ultra-supercritical thermal power projects The Adani Group company is currently constructing six brownfield ultra-supercritical power plants (USCTPP) of 1,600 MW each at its existing locations. The locations are Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh The Adani group is also reviving the construction of a 1,320 MW supercritical power plant at Korba that it had acquired earlier. With this development, Adani Power is set to solidify its position as India's largest private base load power generation company, aiming for an operational capacity of 30,670 MW by 2030, the company stated.
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Business Standard
12-05-2025
- Business
- Business Standard
Adani Power charges up 7% on securing 1,500 MW order from UP Power Corp
Adani Power share price: Shares of Adani Power gained 7 per cent, logging an intraday high at ₹549.65 per share on BSE. The upmove in the stock came after the company received a Letter of Award (LOA) from Uttar Pradesh Power Corporation for procurement of 1,500 MW from a new thermal power project. At 9:22 AM, Adani Power shares were trading 6 per cent higher at ₹544.3 per share on the BSE. In comparison, the BSE Sensex was up 2.33 per cent at 81,309.34. The market capitalisation of the company stood at ₹2,09,933.19 crore. The 52-week high of the stock was at ₹896.75 per share and the 52-week low of the stock was at ₹430.85 per share. In the past one year, Adani Power shares have lost around 14 per cent as against Sensex's rise of 9 per cent. Adani Power order details "This is to inform that Adani Power Limited has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) for procurement of 1,500 MW from a new thermal power project of 2x800MW (1600 MW) installed capacity situated in the State of Uttar Pradesh for a period of 25 years," the filing read. According to the provisions of the tender floated by UPPCL. The award was secured following a competitive bid submission process. As part of the contract, Adani Power will supply power at a tariff of ₹5.383 per unit from a greenfield 2x800 MW (1500 MW net) Ultra-supercritical power plant to be set up under the design, build, finance, own, and operate (DBFOO) model in the state. The company will now sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) under the Letter of Award (LoA) received. 'We are happy to have won the competitive bid to supply 1,500 MW power to UP state and feel privileged to play a leading role in meeting the state's rapidly growing power demand. We plan to set up a modern and low emission Ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by FY30,' said S.B. Khyalia, chief executive officer, Adani Power. About Adani Power Adani Power, a part of the Adani portfolio, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 17,510 MW spread across eleven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.
India.com
12-05-2025
- Business
- India.com
Good news for Gautam Adani as Adani Power wins major deal, set to supply..., to invest Rs 17084 crore at...
Meet man who worked at small pastry shop, now runs Rs 167227 crore company, his name is…, his business is… Gautam Adani is a central figure in India's corporate world, spearheading the Adani Group, a conglomerate with diverse holdings in sectors such as infrastructure, energy, logistics, and more. According to Forbes' 2025 World's Billionaires List, Gautam Adani holds the 28th position, with a net worth of $56.3 billion. Earlier on Saturday, Adani Power said that it won a tightly contested bid to supply 1500 MW (net) of thermal power to Uttar Pradesh. As part of the contract, the Adani Group company will supply power at a highly competitive tariff of Rs 5.383 per unit from a greenfield 2×800 MW (1500 MW net) Ultra-supercritical power plant to be set up in the state under the Design, Build, Finance, Own, and Operate (DBFOO) model. This is further to the Uttar Pradesh cabinet approving the project earlier this month. The Company will now sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) under the Letter of Award (LoA) received today, reads the statement on the official website of Adani Group. 'We are happy to have won the competitive bid to supply 1,500 MW power to UP state and feel privileged to play a leading role in meeting the state's rapidly growing power demand. We plan to set up a modern and low emission Ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by FY30,' S.B. Khyalia, Chief Executive Officer, Adani Power was quoted as saying by the Adani Group. Khyalia said Adani Power would invest USD 2 billion in setting up the plant and related infrastructure. The project is expected to generate direct and indirect employment of 8,000-9,000 during the construction phase and 2,000 once in operation. Thermal power demand in UP is seen rising by 11,000 MW by 2033-34 owing to factors like industrialisation, urbanisation, and modernisation. This is second major PSA bid the company has won in the last one year, after receiving the composite 6,600 MW (1600 MW thermal and 5000 MW solar) LoI from Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) in Sep 2024, which subsequently has been converted into a PSA.
NDTV
10-05-2025
- Business
- NDTV
Adani Power To Supply 1,500 MW To UP From Upcoming Greenfield Power Plant
Ahmedabad: Adani Power Ltd on Saturday said it has won a tightly-contested bid to supply 1500 MW (net) of thermal power to Uttar Pradesh. As part of the contract, India's largest private sector thermal power generator will supply power at a highly competitive tariff of Rs 5.383 per unit from a greenfield 2x800 MW (1500 MW net) ultra-supercritical power plant, to be set up under the Design, Build, Finance, Own, and Operate (DBFOO) model in the state. This is further to the Uttar Pradesh cabinet approving the project earlier this month. The company will now sign a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) under the Letter of Award (LoA). "We are happy to have won the competitive bid to supply 1,500 MW power to UP and feel privileged to play a leading role in meeting the state's rapidly growing power demand. We plan to set up a modern and low emission ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by FY30," said S.B. Khyalia, Chief Executive Officer, Adani Power. Khyalia said Adani Power would invest $2 billion in setting up the plant and related infrastructure. The project is expected to generate direct and indirect employment of 8,000-9,000 during the construction phase and 2,000 once in operation. Thermal power demand in UP is set to rise by 11,000 MW by 2033-34, owing to factors like industrialisation, urbanisation and modernisation. This 1,500 MW order is part of the government's initiative to meet that future demand. This is second major PSA bid the company has won in the last one year, after receiving the composite 6,600 MW (1600 MW thermal and 5000 MW solar) LoI from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) in September 2024, which subsequently has been converted into a PSA.
