Adani Power Ltd. (APL) has bagged a supply order for a total of 1600 MW capacity by MP Power Management Company Ltd (MPPMCL), the company informed via an exchange filing on Thursday.

The company had initially secured an initial 800 MW order, following which under the Greenshoe Option by the MPPMCL, the private thermal power player received an additional 800 MW, under the recently concluded tendering process, taking the total to 1600 MW.

In the last one year, this is the company’s fifth order taking the total power supply order capacity to 7,200 MW.

“This additional capacity of 800 MW awarded is at the same tariff of ₹5.838/kWh applicable to the earlier awarded 800 MW capacity,” the company revealed in its exchange filing.

In a first arrangement of such greenshoe mechanism, the company stated that it will sign a Power Supply Agreement with the state discom to deliver power from a new ultra-supercritical greenfield plant in Anuppur district in the state, being developed under the Design, Build, Finance, Own, and Operate (DBFOO) model.

Both 800 MW units are expected to be commissioned within 60 months, with an estimated investment of ₹21,000 crore in the plant and related infrastructure.

“We are delighted that Adani Power has not only secured the initial 800 MW project in Madhya Pradesh but has also been awarded an additional 800 MW under the greenshoe option. This reinforces our commitment to providing reliable, affordable, and sustainable power to the state and its people. The project further strengthens our long-term partnership with Madhya Pradesh and highlights our dedication to supporting India’s energy security and economic growth,” S.B. Khyalia, CEO, Adani Power (APL), said in a statement.

Earlier today, the company’s shares slipped sharply after a large block of trades just minutes into the session, dragging the stock down as much as 5.42% to ₹600 from the previous close of ₹634.45 on the NSE. However, sentiment quickly reversed after the announcement of the additional capacity supply order, with the stock rebounding to a high of ₹653 in morning trade, up 2.9% from Wednesday’s close. At the time of writing, shares were trading at ₹647.00, up 1.98%.

Currently, the company revealed that it is undergoing a 23.72 GW of capacity addition. This capacity addition will take APL’s overall thermal power generation capacity to 41.87GW by FY 2032. The company currently has an operating capacity of 18.15GW from 12 of its thermal power plants (TPP) located across India.