Adani Power Receives LoA for 558 MW PPA, Securing 95% of Total Operating Capacity
Adani Power, India’s largest private power producer, announced that its subsidiary Moxie Power Generation Ltd. (MPGL) has received a Letter of Award (LoA) from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for supply of 558 MW (net) of power for a period of five years. This agreement provides significant long-term revenue visibility and derisks the company from short-term market volatility, securing more than 95% of Adani Power's total operating capacity with medium to long-term contracts. The power supply agreement is expected to benefit Tamil Nadu consumers by providing an additional 558 MW of reliable and high-quality power, enhance grid stability, and support uninterrupted electricity supply to households, businesses, and industries.
Key Highlights
- Adani Power's subsidiary Moxie Power Generation Ltd. (MPGL) received a Letter of Award (LoA) from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for supply of 558 MW (net) of power
- The PPA is for a period of five years, securing 95% of Adani Power's total operating capacity with medium to long-term contracts
- The agreement provides significant long-term revenue visibility and derisks the company from short-term market volatility
- The power supply agreement is expected to benefit Tamil Nadu consumers by providing an additional 558 MW of reliable and high-quality power
- Adani Power aims to achieve almost 100% PPA tie-up for all its operational and under commissioning plants over the coming years