Adani Power rises as its arm achieves commercial operations of Unit 2 of Ultra-supercritical power Project
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Adani Power is currently trading at Rs. 254.30, up by 3.85 points or 1.52% from its previous closing of Rs. 250.65 on the BSE.
The scrip opened at Rs. 255.00 and has touched a high and low of Rs. 257.80 and Rs. 253.10 respectively. So far 209846 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 432.80 on 22-Aug-2022 and a 52 week low of Rs. 132.55 on 28-Feb-2023.
Last one week high and low of the scrip stood at Rs. 265.65 and Rs. 230.95 respectively. The current market cap of the company is Rs. 98159.10 crore.
The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 11.71% and 13.32% respectively.
Adani Power’s wholly owned subsidiary -- Adani Power (Jharkhand) (APJL) has achieved commercial operations of Unit 2 of 800 MW capacity of the 2x800 MW Ultra-supercritical power Project on June 25, 2023 following successful completion of Reliability Run Tests, as per contract. Accordingly, APJL will hereinafter export, entire power generated from the 2x800 MW Godda Ultrasupercritical thermal power plant (USTCPP) on commercial basis, as per Power Purchase Agreement, directly to Bangladesh through the dedicated 400 kV transmission lines, with net capacity of 1496 MW. APJL has 25-year contract with Bangladesh Power Development Board (BPDB).
Construction of the Godda USTCPP has been completed despite severe challenges posed by COVID-19 pandemic lockdowns. The project, which has deployed for the first time in India state-of-the-art Ultra-supercritical technology, also incorporates for benign operations Flue Gas Desulphuriser (FGD) and Selective Catalytic Reconverter (SCR) equipments, to minimize emissions and in compliance with futuristic norms announced by the Ministry of Environment and Forests and Climate Change (MOEF&CC).
With the commissioning of this power plant, Adani Group has started a new chapter in cross-border export of electricity to the neighbouring country. Adani Power is proud to be a partner in the economic growth and prosperity of Bangladesh, empowering it with a reliable and competitive source of electricity to help it achieve its long-term development goals.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
