Adani Power signs long-term deal with MPSEZ Utilities for power supply

GQG Acquires 8.1% Stake in Adani Power for $1.1 Billion

Adani Power Deal with MPSEZ Utilities:

Adani Power Limited has announced a significant long-term Power Supply Agreement (PSA) with MPSEZ Utilities Limited (MUL), securing a 360 MW capacity supply for a duration of 15 years. The power will be generated from Adani’s 4,620 MW power plant in Mundra, Gujarat, and supplied to MUL, marking a significant milestone in the company’s growth strategy.

The news has caused a buzz in the stock market, with Adani Power Limited’s shares being closely watched. On the day of the announcement, the shares were trading at Rs. 187.45 on the Bombay Stock Exchange (BSE), slightly lower than the previous day’s closing price of Rs. 188.30. A total of 211,136 shares were traded in over 4,576 trades, indicating strong interest from investors.

The PSA is expected to be a boon for Adani Power Limited, as it will provide a long-term revenue stream for the company. The deal also strengthens the company’s position as a leading player in the power sector, with a growing portfolio of power plants across India.

This agreement is a positive sign for the company’s future prospects, and investors will be keeping a close eye on Adani Power Limited as it continues to expand its operations in the power sector.

About Adani Power:

Adani Power, a subsidiary of Adani Group, is an Indian company that specializes in power and energy. Its headquarters are located in Khodiyar, Ahmedabad. Adani Power operates as a private thermal power producer and boasts a capacity of 12,450 MW. Additionally, the company manages a massive solar plant with a capacity of 40 MW in Naliya, Bitta, Kutch, Gujarat.

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