Adani Group’s power unit and Torrent Power Ltd. secured separate contracts worth a combined 325 billion rupees ($3.7 billion) from the central Indian state of Madhya Pradesh to build coal-fired power plants, underscoring the country’s growing reliance on the fossil fuel to meet its energy needs.
MP Power Management Company Ltd. awarded Torrent Power a 220 billion-rupee contract for a 1,600 megawatt ultra-supercritical plant, according to a stock exchange filing on Saturday. Meanwhile, Adani Power Ltd. won a 105 billion-rupee contract to construct an 800MW coal-based power plant in the state.
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