Adani Power Eyes Inorganic Growth

2 Aug 2024 , 12:55 PM

During an earnings call, Adani Power Ltd.’s (APL) chief executive officer, Shersingh B. Khyalia, informed analysts that the company plans to expand its capacity through inorganic means. According to him, the business is also considering brownfield expansion projects to increase capacity by 4,800 MW.

The APL company, situated in Ahmedabad, is constructing three 1,600 MW projects in Raipur, Raigarh, and Mirzapur. The Adani Power subsidiary Mirzapur Thermal Energy (UP) Pvt Ltd is carrying out the Mirzapur project in Uttar Pradesh, while the Raipur and Raigarh projects involve the development of the state’s current power facilities in Chhattisgarh.

“The resolution plan for Lanco Amarkantak and Coastal Energen, which will expand our operating capacity by 1,800 MW and add another 1,320 MW of under-construction capacity, is awaiting NCLT (National Company Law Tribunal) approval,” Khyalia stated. Adding that these expansions taken together will raise the company’s target capacity from 15 GW to 30.67 GW by 2029–2030.

“We are following an agile business model and integrated approach for augmenting assurances on project execution and operational fronts,” stated Khyalia.

As part of its ambition to double thermal power output to roughly 30 MW, APL is building a 1600 MW (2×800) greenfield ultra-supercritical thermal power plant at Mirzapur, according to a story published by ET on Thursday. The company Mirzapur Thermal Energy (UP) Pvt Ltd is constructing the unit.

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