Adani Power Expands Middle East Foothold With Abu Dhabi Subsidiary
The subsidiary has been established to invest in power, infrastructure, and related fields in the Middle East.
Adani Power Ltd. on Monday incorporated a wholly-owned subsidiary, Adani Power Middle East Ltd., in Abu Dhabi, United Arab Emirates. The unit has been registered as an investment holding company and has been established to invest in power, infrastructure, and related fields in the Middle East, according to an exchange filing.
Adani Power is set to play a pivotal role in India’s energy landscape, with plans to significantly expand its coal-based power generation capacity.
The company plans to add 11.2 GW of thermal power capacity as part of India's target of adding 80 GW of thermal capacity by 2032 to meet the accelerated growth in power demand.
This expansion is deemed critical for integrating over 500 GW of renewable power by 2030, ensuring a stable base load power supply, the company said in a presentation.
The growing peak power demand underscores the need for dispatchable capacity, which is best served by thermal power.
The company is focusing on implementing efficient technologies such as Ultra Supercritical and Supercritical systems to reduce emissions.
The company sees a potential capacity of 30.67 GW by March 2031.
Last week, Adani Power received approval from the National Company Law Tribunal to acquire insolvent Lanco Amarkantak Power Ltd. for Rs 4,101 crore.
The deal is slated for completion within 60 days, with a target date of Oct. 20, following the NCLT's approval. The strategic acquisition is expected to solidify Adani Power's position as India's leading private sector power producer, boosting its total operational capacity to 15,850 megawatts.
Lanco Amarkantak operates a 600-MW thermal power plant in Chhattisgarh's Korba district, supplying electricity to Haryana and Madhya Pradesh under long-term power purchase agreements.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Ltd, an Adani Group Company.
