It is anticipated that Adani Power and Torrent Power will supply power to Madhya Pradesh from their new coal-fired power plants at a tariff of approximately $5.8 per kilowatt hour.

 

A joint venture between Adani Power Ltd. and Torrent Power Ltd. has secured separate contracts worth a total of 32,500 crore (about USD 3.7 billion) from the Government of Madhya Pradesh to build coal-fired power plants.

 

An exchange filing on Saturday indicated that, Torrent Power was provided a ₹22,000-crore contract by MP Power Management Co. Ltd. for a 1,600 MW ultra-supercritical facility. In the state, Adani Power was awarded a ₹10,500-crore contract to build an 800 MW coal-based power plant.

 

Both businesses will provide Madhya Pradesh's power distribution firm with electricity from these plants at prices somewhat higher than ₹5.8/kWh, according to the documents. With an estimated yearly revenue of ₹6,500 crore, Torrent Power's project is its greatest investment in the industry to date.

 

With the help of billions of dollars from large firms, the nation intends to install 500 GW of renewable energy power capacity by the end of the decade.

 

Additionally, India is proceeding with its ambitions to increase the capacity of coal-based power. Nearly 88 GW of new coal-based power are to be added by early 2032, according to the government's strategy, which was published in late 2023. This is a 63% increase from an earlier proposal that year.