On Friday, August 29, shares of Adani Power recovered strongly after the company announced that it won a Letter of Award (LoA) for building a large thermal power project in Bihar. The stock, which had earlier dropped to ₹583.35, bounced back and touched ₹600.75 — almost a 3% recovery from the day’s low.
About the Project
Adani Power, India’s largest private thermal power producer, has received approval from Bihar State Power Generation Company Ltd. (BSPGCL) to set up a 2,400 MW thermal power plant at Pirpainti in Bhagalpur district, Bihar.
- The plant will have three units of 800 MW each and will supply electricity for the next 25 years.
- The agreement will be signed with North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Ltd. (SBPDCL).
- The project will cost around $3 billion and is expected to create 10,000–12,000 jobs during construction and about 3,000 jobs once it becomes operational.
- Adani Power won the project by offering the lowest tariff price of ₹6.075 per unit of electricity.
India’s electricity demand is growing rapidly and is expected to nearly double by 2031-32 and more than triple by 2047. While renewable energy is increasing, thermal power will still play an important role in ensuring steady electricity supply.
Adani Power’s CEO, S.B. Khyalia, said that the upcoming Bihar project will set new standards in efficiency and sustainability. He added that it will provide affordable and reliable power, boost industrial growth, and support the state’s economy.
Stock Performance
Adani Power’s stock has shown mixed results over the past year:
- Down 7% in the last 12 months.
- Up 12% so far in 2025, gaining in six of the eight months.
- In August alone, the stock rose 0.7%, marking its sixth consecutive month of gains.
- Its 52-week high is ₹684.90 (Sept 2024), and its 52-week low is ₹430.85 (Nov 2024).
Adani Power’s win of the Bihar project not only boosted its share price but also strengthened its position in India’s growing energy market.
