Ahmedabad/Chennai: Adani Power Limited on Tuesday said its subsidiary has secured a five-year power purchase agreement (PPA) from Tamil Nadu, further locking in capacity from its southern operations.
The contract has been awarded to Moxie Power Generation Ltd (MPGL), which operates a 1,200 MW (2×600 MW) thermal power plant at Tuticorin. The Letter of Award was issued by Tamil Nadu Power Distribution Corporation Limited for supply of 558 MW (net), with deliveries set to begin from April 1, 2026.
The company said MPGL emerged as the lowest bidder in a competitive process, quoting a tariff of ₹5.91 per unit.
With this agreement, both units of the Tuticorin plant now have power supply arrangements in place. Adani Power said over 95% of its operational capacity is currently tied up under medium- to long-term PPAs, a move that provides revenue visibility and cushions exposure to short-term fluctuations in merchant power markets.
Tamil Nadu, which has seen steady industrial demand and seasonal supply pressures in recent years, is expected to benefit from the additional contracted capacity. The agreement is aimed at strengthening grid reliability and ensuring stable supply to consumers across segments.
Adani Power has an installed thermal capacity of over 18 GW across multiple states, along with a small solar portfolio. The company has indicated that it is working toward securing near-full PPA coverage for its operational and under-construction capacity in the coming years.