Adani Power ups capacity addition targets again, to more than 30 GW
Private power producer Adani Power is ratcheting up its electricity generation capacity to match the country’s growing power demand. Revised twice since May, Adani Power now aims to take capacity to more than 30 gigawatt (GW) by 2030.
Adani Power, according to its June presentation, now plans to take its capacity to 30.67 GW by 2029-30. The company plans to achieve it through a mix of organic expansions and acquisitions.
The presentation also said that the company proposed to acquire another one GW of capacity. This is in addition to Adani Power’s ongoing acquisition of Coastal Energen and Lanco Amarkantak Power, of a combined 1.8 GW.
The 30+ GW number is the second revision since May.
Adani Power’s current operating capacity stands at 15.25 GW, which the company in FY24 said it plans to take to 21 GW. In May, in a post earnings investor call and presentation, the company revised this number upwards to 24+ GW by FY30. The second revision was made in the June presentation to 30+ GW with the same timeline.
“India’s largest private thermal power producer is firmly on path to double its operating capacity by FY30,” the presentation said.
An email query sent to Adani Power on Monday requesting rationale for the two upward revisions remained unanswered.
According to the latest target of 30.67 GW, 25.87 GW will comprise of operational and planned greenfield capacities, including potential acquisitions. The remaining 4.8 GW of the planned target, would be through upcoming brownfield opportunities.
Adani’s May capacity target also attracted concerns from analysts on the prospects for thermal power in a country, which is moving towards greener sources and energy storage systems.
Shailesh Sawa, group head- regulatory for the company, said, “There is enough scope for the absorption of the capacity which will get added.”
First Published: Jul 02 2024 | 9:15 PM IST