Adani Power Limited has announced a significant milestone for its subsidiary operations in Tamil Nadu, with Moxie Power Generation Ltd. (MPGL) securing a major power supply contract. The development strengthens the company's position as India's largest private power producer with a generation capacity of 18.15 GW.

Contract Details and Competitive Positioning

Moxie Power Generation Ltd. has received a Letter of Award from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for a substantial power supply agreement. The contract specifications demonstrate the company's competitive market position:

The subsidiary emerged as the lowest bidder in what was described as a tightly contested bidding process, securing the contract with its competitive tariff offering.

Plant Operations and Capacity Utilization

Moxie Power operates a significant thermal power facility in Tuticorin, Tamil Nadu, with a total installed capacity of 1,200 MW comprising two units of 600 MW each. With this new agreement, both units of the Tuticorin plant now have secured power supply agreements, ensuring full capacity utilization under contracted arrangements.

This development brings Adani Power's contracted capacity to over 95% of its total operating capacity through medium to long-term contracts. The company has stated its objective to achieve almost 100% Power Purchase Agreement (PPA) tie-up for all operational and under-commissioning plants in the coming years.

Strategic Benefits and Market Impact

The power supply agreement provides multiple strategic advantages for Adani Power's business operations. The long-term contract structure offers significant revenue visibility and reduces exposure to short-term market volatility. This contracted approach aligns with the company's strategy of securing stable, long-term revenue streams.

For Tamil Nadu's power sector, the agreement is expected to provide 558 MW of additional reliable power supply, contributing to grid stability and supporting uninterrupted electricity supply across residential, commercial, and industrial segments. The competitive tariff structure aims to deliver affordable and dependable energy to consumers in the state.

Company Profile and Operations

Adani Power Limited operates as India's largest private thermal power producer with an installed thermal power capacity of 18,110 MW. The company's generation assets are strategically distributed across twelve power plants located in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu. Additionally, the company operates a 40 MW solar power plant in Gujarat, diversifying its generation portfolio beyond thermal power.

Adani Power Limited has incorporated a wholly owned subsidiary focused on nuclear energy generation, marking a significant expansion into the atomic energy sector. The company received the Certificate of Incorporation for Adani Atomic Energy Limited (AAEL) on February 11, 2026, from the Central Registration Centre, Registrar of Companies.

Corporate Structure and Shareholding

The newly incorporated subsidiary operates as a wholly owned subsidiary of Adani Power Limited, establishing it as a related party under regulatory frameworks. The incorporation was completed through cash consideration, ensuring direct control and ownership by the parent company.

Capital Structure and Business Focus

Adani Atomic Energy Limited has been established with an authorized capital structure designed to support its nuclear energy operations. The subsidiary's primary mandate centers on comprehensive nuclear power operations spanning the entire value chain.

Business Objectives and Operations

The subsidiary's core business activities encompass the complete spectrum of nuclear energy operations. AAEL has been established to generate, transmit, and distribute electric power derived from nuclear and atomic energy sources. This comprehensive approach positions the subsidiary to handle multiple aspects of nuclear power development and distribution.

Regulatory Compliance

The incorporation was completed in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company has fulfilled all disclosure requirements under Regulation 30, ensuring transparency in corporate structure changes. No specific governmental or regulatory approvals were required for the incorporation process itself.