Private power producer Adani Power is ramping up its electricity generation capacity to meet India’s rising power demand. Revised twice since May, Adani Power now aims to increase its capacity to over 30 gigawatts (GW) by 2030.
According to a June presentation, Adani Power plans to reach a capacity of 30.67 GW by 2029-30 through a combination of organic expansions and acquisitions. The company also intends to acquire an additional 1 GW of capacity, on top of its ongoing acquisition of Coastal Energen and Lanco Amarkantak Power, which together add up to 1.8 GW.
This 30+ GW target marks the second revision since May. Adani Power’s current operating capacity is 15.25 GW, which it plans to increase to 21 GW in FY24. In May, during an investor call and presentation, the company revised its target to over 24 GW by FY30. The latest revision in June sets the target at over 30 GW by the same timeline.
The presentation highlighted, “India’s largest private thermal power producer is firmly on the path to double its operating capacity by FY30.” An email query sent to Adani Power requesting the rationale for the upward revisions went unanswered.
The updated target of 30.67 GW includes 25.87 GW from 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 focus on thermal power given India’s shift towards greener energy sources and storage systems. However, Shailesh Sawa, Group Head of Regulatory Affairs at Adani Power, assured that there is sufficient demand to absorb the additional capacity.
