Adani Power on Tuesday said its subsidiary, Moxie Power Generation Ltd (MPGL), has received a letter of award (LoA) from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for the supply of 558 MW (net) of electricity for a period of five years.

Following the announcement, shares of Adani Power were trading marginally lower by 0.38% at ₹143.45 on the BSE, compared to the previous close of ₹144. Trading activity remained subdued, with total traded quantity (TTQ) at 1.74 lakh shares, significantly lower than the two-week average volume of 10.51 lakh shares, while its market capitalisation stood at ₹2.76 lakh crore.

Moxie Power operates a 1,200 MW (2X 600 MW) power plant in Tuticorin, Tamil Nadu. It has emerged as the lowest bidder in a tightly contested bid by offering a tariff of Rs 5.910 per unit, with supply starting 1 April 2026, Adani Power said in a release today.

The release noted that both units of the Tuticorin plant are now tied up under power supply agreements (PSAs). The Adani group company said more than 95% of its total operating capacity is secured under medium- to long-term contracts, providing strong revenue visibility and reducing exposure to short-term market volatility.

Adani Power aims to achieve near 100% power purchase agreement (PPA) tie-ups for all its operational and under-commissioning plants over the coming years.

“This power supply agreement is expected to benefit Tamil Nadu consumers by providing an additional 558 MW of reliable and high-quality power, enhance grid stability, and support uninterrupted electricity supply to households, businesses, and industries. By securing power at a competitive tariff, consumers are expected to benefit from more affordable and dependable energy in the years ahead,” the release noted.

Adani Power, part of the diversified Adani portfolio, is India’s largest private thermal power producer, with an installed capacity of 18,110 MW across 12 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu. The company also operates a 40 MW solar power plant in Gujarat.

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