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Adani Power Ltd overview

Adani Power Ltd journey

• 1996: Adani Power Ltd receives the certificate of commencement of business.
• 2002: The company becomes a private limited company in June and receives a fresh certificate of incorporation.
• 2004: The entire shareholding goes to Mundra Port and Special Economic Zone Limited (MPSEZL).
• 2006: Transfer of shareholding to Adani Enterprises.
• 2007: Executes two 1,000 MW agreements with Gujarat Urja Vikas Nigam Ltd. In April, the company converts into a public limited company. In November, it allocates the Lohara extension and West coal blocks to Tiroda Power Project.
• 2008: The company signs several agreements with Maharashtra Industrial Corporation and Ventura Power.
• 2011: Adani Power Ltd wins the 'National Energy Conservation Award 2011'.
• 2012: The company becomes the world's first power plant to receive carbon credits.
• 2014: Adani Power Ltd becomes India's largest private power producer.

Adani Power Ltd Initial Public Offer (IPO)

Adani Power Ltd products

Adani Power Ltd business highlights

Adani Power Ltd performance highlights

Adani Power Ltd's management

• Adani Power Ltd Chairman: Gautam Adani
• Adani Power Ltd Director: Rajesh Adani
• Adani Power Ltd Managing Director: Anil Sardana
• Adani Power Ltd Independent and Non-Executive Director: Raminder Singh Gujral

Indian coal power industry overview

Size of the Indian coal power industry

• A peak of 210.79 GW of power was consumed in the country on June 9, 2022.
• As of June 2022, the actual PLF of thermal power plants in India was 68.24%, up from 67.92% in May 2022.

Coal power industry growth prospects

• During FY2022-23, India's power demand is forecasted to grow more than 6%, which is higher than pre-pandemic levels and above the long-term average of 5%.
• This trend of above-average growth may continue for two more fiscal years.

Adani Power Ltd growth prospects

• The company has set an expansion target of 16,850 MW by 2028
• The company has five upcoming power plants in Godda, Jharkhand; Chhindwara, Madhya Pradesh; Dahej, Gujarat; Udupi, Karnataka and Kawai, Rajasthan.
• Adani Power Ltd may acquire Ind-Barath Thermal Power in a bankruptcy auction.
• On September 2021, it announced plans to invest up to ₹2,000 crore in the next ten years.

Risks and concerns

• Adani Power Ltd deals majorly in power generation using coal. With India's target of Net Zero Emissions by 2070 and increasing climate change, energy based on coal may become less popular.
• As a result of a variety of factors, including commercial competitiveness with solar power, coal-based thermal power plants' utilization (PLF) gradually decreased from 64% in FY2014-15 to 55% in FY2020-21.
• Adani Power Ltd has a gross debt estimate of ₹48,900 crore.
• According to India's power secretary, 20% of the country's coal capacity is classified as stressed (assets whose interest payments exceed profits), and one-fourth of these assets have become “completely unviable.” These stressed assets are valued at ₹2.5 trillion, or about USD 35 billion, according to Credit Suisse.

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