Adani Power

Adani Power Limited
Public company (BSE: 533096, NSE: 533096)
Industry Energy
Founded 22 August 1996
Headquarters Ahmedabad, India
Key people

Gautam Adani, (Chairman)

Vineet S Jaain, (CEO)
Products Electricity generation, transmission and distribution; energy trading
Revenue ₹113.04 billion (US$1.6 billion)(2014)
₹195.52 billion (US$2.7 billion)(2014)
Number of employees
 2,000 (2011)
Parent Adani Enterprises Limited
Website adanipower.com

Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group with head office at Ahmedabad, Gujarat. The company is India's largest private power producer, with capacity of 10,440 MW[1] and also it is the largest solar power producer of India with a capacity of 688 MW.[2] Adani Power Limited is ranked 334th in the top companies in India in Fortune India 500 list of 2011.[3]

The company operates five supercritical boilers of 660 MW each (as per March 2012) at Mundra, Gujarat & five 660 MW units(as per May 2015) at Tiroda, Maharashtra. It also operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat.[4] It is India's first company to achieve the supercritical technology. The plant is the only thermal power plant in India to be certified by UN under CDM.[5]

The company is implementing 16,500 MW at different stages of construction. Its mission is to achieve 20,000 MW by 2020. 100 MW of solar power station is also under advanced stage of implementation at Surendranagar in Gujarat out of which 40 MW is already commissioned.[6] The company has gone to long term PPAs of about 7,200 MW of its 9,280 MW with government of Gujarat, Maharashtra, Haryana and Rajasthan.

History

Adani Power was started as a power trading company in 1996. It started generation in July 2009 by implementation of its first 330 MW of 4,620 MW at Mundra. The Mundra super mega project is the largest coal-based power project of India and fifth largest in the world. The company commissioned another three 330 MW by November 2010 and country's first supercritical unit of 660 MW on 22 December 2010, making its capacity 1,980 MW. 0n 6 June 2011 it synchronised its second unit of 660 MW bringing the total generating capacity to 2,640 MW and on 2 October 2011, it synchronised its third super critical unit with national grid. With this, Adani Power has become largest thermal power generating company in the private sector, and the Mundra plant has become India's largest power plant with capacity of 3,300 MW.

In February 2012, it commissioned the last unit of Mundra Project to take its capacity to 4,620 MW which makes the Mundra TPP to be the largest privately held thermal power plant in the world and fifth largest on an overall basis, as of March 2012.This plant became the largest thermal power plant in Asia after its completion.

On April 3, 2014, Adani Power Ltd. announced the commissioning of the fourth unit of 660 MW at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India, with an overall installed capacity of 9,280 MW.[2] The fifth unit was commissioned later in 2014.

Adani Power Ltd. announced the completion of acquisition of Udupi Power Corporation Limited on May 11, 2015. With this, Adani Power has a total commissioned capacity of 10,440 MW, making the company the largest private power producer in India.[7]

Operations

Future projects

As of January 2011, the company has 16,500 MW[8] under implementation and planning stage. Included are a 3,300 MW coal based TPP at Bhadreswar in Gujarat, a 2,640 MW TPP at Dahej, Gujarat, a 1,320 MW TPP at Chhindwara in Madhya Pradesh, a 2,000 MW TPP at Anugul, Orissa, a 2,000 MW TPP at Sambalpur, Orissa, and a 2,000 MW gas-based power project at Mundra, Gujarat. The company is bidding for a 1,000 MW lignite coal-based power plant in Kosovo.[12]

In the second week of August 2014, Adani Power acquired Lanco Infratech's Udupi thermal power plant in a Rupee 6,000 crores deal. This would add another 1,200 MW installed capacity, taking the group capacity to 10,480 MW.[13] In November Adani Power (Jharkhand) has signed a long-term pact with Bangladesh Power Development Board to supply electricity from its upcoming 1,600 MW plant at Godda in Jharkhand.

Corruption Allegations

Two separate investigations into allegations of trade-based money laundering by Adani companies are underway — one into the fraudulent invoicing of coal imports and the other into a scam involving false invoicing for capital equipment imports.

The Group, after signing an agreement with the State government of Tamil Nadu in July last, started purchasing land. After purchasing more than 2,500 acres of farming lands in Ramanadhapuram village, the group launched preliminary work in August 2015. The group initially assured that it would give job opportunities for the local erudite youth, free water supply and many perks for the villagers. But so far, nothing was done and villagers were left without the agreed basic facilities. A group of farmers moved out of their village. [14]

Adani Enterprises Ltd has also been accused of involvement in large-scale illegal iron ore exports and bribery of public officials.[14]

See also

References

  1. ↑
  2. 1 2 "Adani Annual Report 2016". Adani Enterprises. Adani Enterprises. 4 April 2014. Retrieved 1 December 2016.
  3. ↑ 5 Gujarat PSUs in Fortune India 500 list
  4. ↑ "Adani Group commissions largest solar power project".
  5. ↑ "Adani power synchronizes country's 1st super critical unit". economictimes.com. 23 December 2010.
  6. ↑ "Solar power".
  7. ↑ "Adani Power acquires Udipi Power corporation ltd Press Release".
  8. 1 2 "Projects of Adani power ltd".
  9. ↑ http://www.thehindu.com/business/Industry/lanco-sells-udupi-plant-to-adani-for-rs6000-cr/article6313857.ece
  10. ↑ "Adani To Buy Lanco's Udupi Plant". Bloomberg TV India.
  11. ↑ http://economictimes.indiatimes.com/industry/energy/power/abb-links-648-mw-solar-project-at-kamuthi-with-national-grid/articleshow/52728908.cms
  12. ↑ "Adani power in the race of kosovo project". economictimes.com. 8 March 2010.
  13. ↑ "Adani power acquires Lanco's Udipi thermal power".
  14. 1 2 http://www.abc.net.au/news/2016-12-22/adani-companies-facing-multiple-corruption-probes/8140100
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