Adani Power Plans Ambitious 9,020 MW Capacity Expansion

Adani Power Ltd., the largest private sector thermal power producer in India, plans to expand its capacity by 9,020 megawatts. The company recorded a 96% increase in Ebitda to Rs 28,111 crore, thanks to improved fuel costs following regulatory orders.

Its current power generation capacity stands at 16,850 MW, and construction for an additional 1,600 MW is already underway. The company’s proposed organic and inorganic capacity expansion is 9,020 MW.

Adani Power has increased its operating capacity by 12% to 15,250 MW with the commissioning of the 1,600 MW Godda ultra-supercritical thermal power plant, billionaire Gautam Adani said, calling 2023 “a year unlike any other”, in the company's annual report. The company plans to commission the plant in fiscal 2028.

The company also plans to add 4,800 MW of brownfield capacity over the next few years, in addition to proposed acquisitions, bringing their total to 24,270 MW. It also plans to initiate another project of 1,600 MW at the Raigarh power plant in Chhattisgarh.

Their robust growth and plans for expansion are attributed to population expansion and urbanisation trends, as India’s demand for power reached unprecedented levels in FY24. Strong cash flows from operations and regulatory recoveries helped the company reduce leverage, improving its credit rating assigned by CRISIL and India Ratings from 'A' to 'AA-' during the year. Adani Power also invested in cutting-edge technologies for cleaner and more efficient coal-based power generation during the year.

The total demand for electricity increased by 7.5% to 1,626 billion units, while peak power demand in the nation reached a record high of 243.27 gigawatts in September 2023.

Shares of Adani Power were trading 14.57% higher at 10:13 a.m., compared to a 2.88% rise in the NSE Nifty 50.

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