ADANI POWER bags power supply contract for TAMILNADU, TELENGANA

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Ahmedabad headquartered Indian Conglomerate Adani Group’s power entity – Adani Power Ltd said of one of its wholly owned subsidiary having received letter of award for supply of 295 MW Power to Tamilnadu and Telangana distribution companies, for 3 years period, from its 600 MW Raigarh power plant.

An update filed by the company to the Indian Bourses read that, this is t o inform that the Company’s wholly owned subsidiary, Raigarh Energy Generation Ltd (formerly known as Korba West Power Company Ltd and herein after referred to as “REGL”) has been issued a Letter of Award (“LoA”) by PFC Consulting Ltd (“PFCCL”, a Nodal Agency appointed by Ministry of Power under Pilot Scheme II) for supply of total 295 MW Power (i. e. 185 MW Power to Tamilnadu Generation & Distribution Corporation Ltd and 110 MW Power to Telangana State Power Coordination Committee, hereinafter collectively referred to as “Discoms”) from its 600 MW Power Plant situated at Raigarh, Chhattisgarh, for a period of three years under Pilot Scheme-II through M/s. NHPC Limited (“NHPC”, an Aggregator appointed under the Pilot Scheme II).

In terms of the above-referred LoA, REGL will be required to sign an Agreement for Procurement of Power (“APP”) with NHPC Ltd (“Aggregator”) under Pilot Scheme-II, after requisite approval s from the respective Appropriate Commissions by Discoms.

As earlier informed, REGL has recently, in June, 2019, been acquired by the Company upon approval of our resolution plan for REGL by the Hon’ble National Company Law Tribunal, Ahmedabad Bench.