Adani Power to sell 1,200 MW to Rajasthan

Private sector power producer Adani Power Ltd on Tuesday said it has secured a contract to sell 1,200 MW of electricity to Rajasthan Rajya Vidhyut Utpadan Nigam (RRVPNL) on long term basis.

Adani Power Rajasthan Ltd, a subsidiary of the company, "has been awarded a letter of intent (LOI) by RRVPNL for purchase of up to 1,200 MW of power on long-term basis," Adani Power Ltd said in a filing to the Bombay Stock Exchange.

With this contract, the long-term power selling arrangement of the company, which recently hit the capital market with its public offer, comes to 5,900 MW.

"We have articulated our vision to build 20,000 MW generation capacity by 2020 with diversified fuel sources. With this LOI, we are taking one more step in that direction," Adani Group Chairman Gautam Adani said.

The company won the bid under Case-I competitive bidding, whereby the developer takes full responsibility for the project and commits to supply power through competitive bidding process.