Ahmedabad, Nov 14 (NationPress) Adani Power and Adani Green Energy, two key companies under the Adani Group, announced on Friday that they have secured Letters of Award (LoA) from the Assam government for two major projects totaling Rs 63,000 crore in investment for the state.

Adani Power Ltd, the largest private sector power producer in India, plans to invest Rs 48,000 crore to establish a 3,200 MW greenfield ultra supercritical power plant in Assam.

In addition, Adani Green Energy Ltd (AGEL), the biggest renewable energy firm in India, aims to invest Rs 15,000 crore to construct two Pumped Storage Plants (PSP) with a total capacity of 2,700 MW.

AGEL has been awarded an LoA for 500 MW of energy storage capacity, which will be sourced from these PSPs, as per the company announcement.

The advanced thermal power facility and innovative pumped storage plant will collectively entail an investment of Rs 63,000 crore in the state.

“The North-East is becoming a crucial area in India’s development narrative, and we are honored to play a role in its transformation. Our 3,200 MW thermal power project and 2,700 MW PSP initiatives in Assam signify not just the largest private investment in the region but also concrete actions towards energy security, industrial growth, and job creation,” stated Gautam Adani, Chairman of the Adani Group.

These pivotal projects highlight the Adani Group’s commitment to the development of India’s northeastern region, aligning with Chairman Gautam Adani’s earlier announcement to invest Rs 50,000 crore in the region's advancement.

“Our initiatives will not only energize Assam but also stimulate progress throughout the northeastern corridor. We are excited to contribute to the development of Assam and the broader northeast and anticipate forming partnerships that elevate local communities and propel India’s energy transition,” mentioned Gautam Adani.

Adani Power emerged as the winning bidder, presenting the most competitive tariff of Rs 6.30 per kWh during a closely contested bidding process. The company will construct the Ultra Super Critical plant following the Design, Build, Finance, Own and Operate (DBFOO) model. The coal linkage for this power plant has been approved under the SHAKTI Policy of the Government of India.

The project is anticipated to create direct and indirect employment opportunities for approximately 20,000 to 25,000 individuals during the construction phase, sustaining around 3,500 jobs during operational phases, with commissioning expected in stages starting in December 2030.

Adani Green Energy was also the lowest bidder for 500 MW of energy storage capacity. This project will implement cutting-edge technologies for energy storage, enhancing grid stability and managing electricity demand during peak periods, thus ensuring a sustainable and resilient power supply. It will be instrumental in integrating renewable energy sources, aiding Assam’s transition towards a greener future.