Adani Power, Adani Green shares surge up to 5% on 6,600 MW supply deal with Maharashtra govt
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Shares of Adani Power and Adani Green surged nearly 5% today, hitting intraday highs of Rs 665.90 and Rs 1,870, respectively, on the BSE. This rise followed the announcement that the Maharashtra State Electricity Distribution Company (MSEDCL) had issued letters of intent for the supply of 6,600 MW of hybrid solar and thermal power. Under the deal, Adani Green (AGEL) will supply 5 GW (5,000 MW) of solar power from Khavda, while Adani Power will supply 1,496 MW (net) of thermal power from the new 1,600 MW Ultra Supercritical capacity. Adani Power and Adani Green will sign separate contracts with MSEDCL for their respective supply components, as permitted under the tender conditions. “Adani Green Energy Limited (AGEL), India's largest renewable energy company, will sign a long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Letter of Intent (LOI) for the supply of 5 G...