Gautam Adani-backed power company, Adani Power, India’s largest private power producer with a generation capacity of 18.15 GW, today said its subsidiary Moxie Power Generation Ltd. (MPGL) has received a Letter of Award (LoA) from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for the supply of 558 MW (net) of power for a period of five years. Moxie Power operates a 1,200 MW (2X 600 MW) power plant in Tuticorin, Tamil Nadu. It emerged as the lowest bidder in a tightly contested bid by offering a tariff of Rs 5.910 per unit, with supply starting 1 April 2026.
Now, both units of the plant have power supply agreements and more than 95 per cent of Adani Power’s total operating capacity is secured with medium to long-term contracts. This provides significant long-term revenue visibility and also derisks the company from short-term market volatility. The company aims to achieve almost 100 per cent PPA tie-up for all its operational and under commissioning plants over the coming years.
This power supply agreement is expected to benefit Tamil Nadu consumers by providing an additional 558 MW of reliable and high-quality power, enhancing grid stability and supporting uninterrupted electricity supply to households, businesses and industries. By securing power at a competitive tariff, consumers are expected to benefit from more affordable and dependable energy in the years ahead.
About the Company
Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India. The Company has an installed thermal power capacity of 18,110 MW spread across twelve power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat. With the help of a world-class team of experts in every field of power, Adani Power is on course to achieve its growth potential. The company is harnessing technology and innovation to transform India into a power surplus nation and provide quality and affordable electricity for all.
The company has a market cap of over Rs 2.7 lakh crore and has delivered good profit growth of 66 per cent CAGR over the last 5 years. The shares of the company have a PE of 24x, an ROE of 26 per cent and an ROCE of 23 per cent. The stock is up by 54 per cent from its 52-week low of Rs 430.85 per share and has given multibagger returns of over 1,200 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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Gautam Adani-Backed Power Company Receives LoA for 558 MW PPA from TNPDCL