Adani Power shares rise 5% after securing 1,600 MW MSEDCL supply contract

Adani Power share price today: Shares of Adani Power, India's largest thermal power producer, surged over 5 per cent to hit an intraday high of ₹154.1 on Monday, March 16, after the company received a letter of award (LoA) from the Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of 1,600 MW of power from one of its upcoming ultra-supercritical thermal power projects. 

 

Around 12:30 PM, Adani Power stock was trading at ₹151.35, up by 3.3 per cent from the previous session's close of ₹146.57. In comparison, the benchmark NSE Nifty50 was quoting at 23,182.25 levels, up by 31.15 points or 0.13 per cent. The stock's 52-week high was at ₹183.70, and its 52-week low was at ₹92.40 on the NSE. Its total market capitalisation stood at ₹2.91 trillion.

 

Here's why Adani Power stock is rising:

"Adani Power Limited has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for supply of 1600 MW Thermal Power under a long-term Power Supply Agreement (PSA)," the company said in an exchange filing on Sunday, March 15, 2026.

 

The award was granted following a competitive bidding process, in which Adani Power emerged as the lowest-tariff bidder, offering a combined tariff of ₹5.30 per kWh for power supply.

 

Power supply under the proposed 25-year PSA is expected to begin from FY31. The MSEDCL project comprises a pre-determined coal linkage, which the company said will ensure fuel security and enable cost-effective power supply. 

 

The power will be sourced from one of the company’s planned ultra-supercritical thermal power plants. This technology offers higher efficiency and produces lower emissions compared to traditional coal-based power generation.

 

The company said the contract marks another win for Adani Power as India pushes to add more thermal capacity to meet rising electricity demand. It added that it has secured five long-term power supply agreements in FY26 with a combined capacity of 10,400 MW.

 

With the latest deal, long-term PSAs have been tied up for 13.3 GW of its 23.8 GW capacity pipeline. It added that over 95 per cent of its existing 18.15 GW operating capacity is under medium- to long-term contracts, while more than 55 per cent of its upcoming capacity is backed by 25-year agreements. The company plans to expand its generation capacity from 18.15 GW to 41.87 GW by FY32, with investments of about ₹2 trillion.