Shares of Adani Power and Adani Green Energy surged by 6% following the announcement of a significant deal with Maharashtra's state electricity distribution company (DISCOM). The companies secured a Letter of Intent (LoI) to supply a total of 6,600 MW of power, comprising 5,000 MW of solar power from Adani Green and 1,600 MW of thermal power from Adani Power. The deal highlights the growing demand for hybrid energy solutions in India and the role of these companies in meeting it.
The power supply deal with Maharashtra
On September 16, Adani Power and Adani Green stocks rallied after the companies secured a LoI for supplying a combined 6,600 MW of hybrid power to Maharashtra's DISCOM. Adani Green is set to supply 5,000 MW of solar power from Khavda, which is the largest global solar capacity award, while Adani Power will contribute 1,496 MW of thermal power from a new ultra-supercritical facility. Both companies will sign long-term contracts with MSEDCL for power supply, marking a significant win for both parties. This development can also create opportunities for investors who want to buy shares online and explore India's renewable energy sector.
A surge in stock prices
Following this major development, Adani Power shares rose by over 6%, trading at ₹671.80 on the National Stock Exchange (NSE). Similarly, Adani Green Energy shares climbed nearly 6%, reaching ₹1,895. This price rally highlights the positive market sentiment surrounding the companies, making it an opportune time for those looking to buy shares online in the energy sector. The Maharashtra deal cements the companies' positions as major players in India's energy market, with a focus on both solar and thermal power.
Hybrid power supply: A growing trend
Adani Power and Adani Green's deal with MSEDCL underscores the increasing importance of hybrid power solutions—combining solar and thermal energy to meet rising demand. The LoI awarded through a competitive bidding process highlights the potential for such large-scale hybrid projects, making it a significant milestone for the Adani Group. Investors who are keen to explore such growth sectors may want to buy shares online in companies like Adani Power and Adani Green, both of which are leading the shift towards renewable energy.
Future outlook
The Adani Group's combined expertise in solar and thermal energy positions it well for future projects, and the Maharashtra deal is just one example of its growing footprint. Adani Green's solar capacity is set to connect to the Inter-State Transmission System, while Adani Power's thermal energy will be sourced from coal linkages under the SHAKTI policy. As energy demands continue to rise, particularly in renewable sources, this deal strengthens the Adani Group's ability to meet those demands.
For those looking to buy shares online, this surge in Adani Power and Adani Green stocks serves as a reminder of the potential returns in the energy sector.
For android only