Adani Power Wins Bid to Set Up ₹25,000 Crore Ultra-Supercritical Power Plant in Bihar

2,400 MW greenfield project to support Bihar's growing power demand with competitive tariff and low-emission technology.

Adani Power Ltd., India’s largest private thermal power producer, has received a Letter of Intent (LoI) from Bihar State Power Generation Company Ltd. (BSPGCL) to develop and operate a 2,400 MW ultra-supercritical thermal power project at Pirpainti in Bhagalpur district. The company emerged as the lowest bidder in a competitive tender, quoting a tariff of Rs 6.075 per unit.

The entire net capacity of 2,274 MW from the plant will be supplied to North Bihar and South Bihar Power Distribution Companies. The project, to be developed under the Design, Build, Finance, Own, and Operate (DBFOO) model, involves a total investment of approximately $3 billion (₹25,000 crore). The first of the three 800 MW units is expected to be commissioned within 48 months of the appointed date, and the final unit within 60 months.

In Q1FY26, the company reported a revenue of Rs 14,574 crore, registering a 6% YoY decline, while profit after tax (PAT) stood at Rs 3,305 crore, down 15% YoY reflecting the impact of softer operational performance during the quarter. As of Q1FY26, the company had a net debt of Rs 37,437 crore, compared to Rs 25,653 crore in the same quarter last year. On the operational front, the company currently manages 18,150 MW of installed capacity across 13 assets, with an additional 12,520 MW locked-in across 8 projects, targeted for commissioning by FY30. Reinforcing its long-term growth ambitions, the company has committed an investment plan exceeding $11 billion through FY30.

Adani Power Ltd. part of the Adani portfolio, is India’s largest private sector thermal power generator. The company along with its subsidiaries sell power generated from these projects under a combination of long term Power Purchase Agreements, Short term PPA and on merchant basis.

Today, the company’s shares closed at Rs 578.50, up 2.05%. Over the past six months, the stock has gained 16%, taking its current market capitalisation to Rs 2,23,000 crore.

This article is intended for informational purposes only and should not be considered as investment advice.