The utility, controlled by billionaire Gautam Adani, plans to build two power units with a total capacity of 1,600 megawatts (MW) and construction could begin by December, one of the people said, adding that there is a meeting scheduled in Jharkhand next week and a deal would be sealed this month.
The other person, a Jharkhand government official, said most government approvals were in place already.
An Adani Power spokeswoman did not immediately respond to a request for comment.
The electricity generated from the Jharkhand units would be sold to power-deficient Bangladesh, where Adani is trying to expand as part of his goal to make the group a multinational energy and infrastructure conglomerate.
Flagship Adani Enterprises Ltd, which is fighting legal challenges to start a $7 billion mine coal near the Great Barrier Reef in Australia, wants to take its electricity generation capacity in India to 20,000 MW this decade through Adani Power.
($1 = Rs 67.63)
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