Adani Power Aims to Exceed 30 GW Electricity Generation Capacity by 2030

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Adani Power Aims to Exceed 30 GW Electricity Generation Capacity by 2030

| Updated: July 3, 2024 11:46

Private power producer Adani Power is making significant strides in expanding its electricity generation capacity to meet India’s growing energy demand. Having undergone two revisions since May, Adani Power now sets its sights on surpassing 30 gigawatts (GW) by 2030.

In its June presentation, Adani Power outlined plans to achieve a capacity of 30.67 GW by 2029-30. The company intends to achieve this ambitious target through a combination of organic expansions and strategic acquisitions.

The recent presentation also revealed Adani Power’s proposal to acquire an additional 1 GW of capacity. This move complements the ongoing acquisition of Coastal Energen and Lanco Amarkantak Power, which together contribute 1.8 GW to the company’s portfolio.

The upward revision to 30+ GW marks the second adjustment since May. Adani Power’s current operating capacity stands at 15.25 GW, with initial plans to reach 21 GW by FY24. In a subsequent investor call and presentation, the company raised its target to 24+ GW by FY30. The latest revision, disclosed in June, aims for over 30 GW by the same timeline.

The presentation emphasised Adani Power’s commitment to doubling its operating capacity by FY30, solidifying its position as India’s largest private thermal power producer. However, an email inquiry seeking clarification on the rationale behind the revisions remains unanswered.

Of the 30.67 GW target, 25.87 GW will consist of operational and planned greenfield capacities, including potential acquisitions. The remaining 4.8 GW will come from upcoming brownfield opportunities.

Analysts have raised concerns about the viability of thermal power in a country increasingly transitioning to greener energy sources and energy storage systems. Shailesh Sawa, group head-regulatory for Adani Power, remains optimistic, asserting that there is ample room for absorbing the additional capacity.

Also Read: Kotak Established Offshore Fund Structure To Bet Against Adani: Hindenburg Responds To SEBI’s Notice 

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