Adani Power plans capacity expansion via inorganic route

Adani Power Ltd. (APL) is planning capacity expansion through the inorganic route, its chief executive officer, Shersingh B Khyalia, told analysts on an earnings call. The company is also evaluating brownfield expansion projects to add 4,800 MW of capacity, he said.

Ahmedabad-based APL is setting up three projects of 1,600 MW each at Raipur, Raigarh and Mirzapur. The Raipur and Raigarh projects are an expansion of the existing power plants in Chhattisgarh, while the Mirzapur project in Uttar Pradesh is being executed by Adani Power subsidiary Mirzapur Thermal Energy (UP) Pvt Ltd.

"We are awaiting NCLT (National Company Law Tribunal) approval of 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," said Khyalia, adding that together these expansions will take the company's target capacity to 30.67 GW by 2029-30 from 15 GW now.

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

On Thursday, ET had reported that APL is building a 1600 MW (2x800) greenfield ultra-supercritical thermal power plant at Mirzapur as part of its strategy to double thermal power capacity to about 30 MW. The unit is being built by Mirzapur Thermal Energy (UP) Pvt Ltd.