Adani Power surges 3% after new thermal unit at Godda goes on stream

Adani Power has started supplying Bangladesh with 748 MW of power from this plant at Godda, Jharkhand.

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Shares of Adani Power gained 3 percent on April 10 after the company announced the commissioning of its first 800-MW ultra-super-critical thermal power generation unit at Godda in Jharkhand.

At 10:51am, shares of the power company traded 1.4 percent higher at Rs 194.85 on the BSE.

The company has started supplying 748 MW of power to Bangladesh from this plant, Adani Power said. “The Godda Power Plant is a strategic asset in the India-Bangladesh’s long-standing relationship,” said Adani Power chief executive SB Khyalia in an exchange filing.

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It is the first power plant in the country, which has started its operations from Day One with 100 percent Flue Gas Desulphurization (FGD), SCR and Zero Water Discharge, the release said.

Adani Power said that even as Bangladesh has long-term PPA ties with three other imported coal-based generators presently, the total tariff of Godda plant is competitive compared to peers.

The power plant is a part of the Adani Group’s plan to generate 10,000 MW of power in Jharkhand, which is located in eastern India. The project has been in the works for several years.

The stock has declined 30 percent in the past three months but has soared over 500 percent in the past three years.

A report from Reuters said that India’s power generation grew at the fastest pace in over three decades in the just-ended fiscal year while another news report on Mint stated nearly 9 percent share of electricity is likely to be contributed from India’s nuclear sources by 2047 citing Jitendra Singh, Union minister of state (Independent Charge) for atomic energy and space.