Adani to invest Rs 63,000 cr in transformative energy projects in Assam

Ahmedabad, (Gujarat) [India], November 14 : Two portfolio companies of the Adani Group, India's leading private sector infrastructure and energy platform, have received Letters of Award (LoA) from the Assam Government for two transformative projects in Assam: a state-of-the-art thermal power plant and a pioneering pumped storage facility, which would see them collectively invest Rs 63,000 crore in the state.

Adani Power Ltd (APL), India's largest private sector power generator, will invest Rs 48,000 crore to set up a 3,200 MW greenfield ultra supercritical power plant in Assam, the company said in a release.

Separately, Adani Green Energy, India's largest renewable energy company, intends to invest Rs 15,000 crore, to set up two Pumped Storage Plants (PSP) in the state with a combined capacity of 2,700 MW. AGEL has received an LoA for 500 MW of energy storage capacity, which will be catered from the above PSPs.

These landmark initiatives underscore the Adani Group's strategic focus on the advancement of India's northeastern region, aligning with Chairman Gautam Adani's pledge in February this year to invest Rs 50,000 crore in the region's development and growth, the release said.

"The North-East is emerging as a vital frontier in India's growth story," said Gautam Adani, Chairman of the Adani Group," and we are proud to contribute to its transformation. Our 3,200 MW thermal power project and 2,700 MW PSP projects in Assam collectively represent not only the largest private sector investment in the region but also firm steps toward energy security, industrial development and job creation. These projects will not only energise Assam but also catalyse progress across the entire northeastern corridor. We are honoured to contribute to Assam and the entire northeast's progress and look forward to building partnerships that uplift local communities and drive India's energy transformation."

Adani Power emerged as the successful bidder, offering the lowest tariff of Rs 6.30 per kWh, through a tightly contested bidding process. The company will set up an Ultra Super Critical plant under the Design, Build, Finance, Own and Operate (DBFOO) model. The coal linkage for the power plant has been allocated under the SHAKTI Policy of the Government of India.

The project, which is expected to generate direct and indirect employment for around 20,000 to 25,000 people during the construction phase and sustain around 3,500 jobs during the operations phase, will be commissioned in a phased manner from December 2030. The power project will enhance Assam's energy infrastructure, supporting the state's growing industrial and household needs with reliable and efficient power. This facility is designed to set new benchmarks in environmental stewardship, leveraging modern technology to minimise emissions and maximise operational efficiency.

Adani Power Ltd (APL) has received the requisite approvals from the Assam Electricity Regulatory Commission, and the Power Supply Agreement (PSA) with Assam Power Distribution Company Limited (APDCL) is expected to be executed in due course.

Adani Power is implementing India's largest private sector capex programme to secure the nation's growing base load demand. It has a current operating capacity of 18.15 GW from 12 thermal power plants and one solar plant and is aiming to achieve an overall generation capacity of 42 GW by 2031-32.

Adani Green Energy too emerged as the lowest bidder for 500MW of energy storage capacity.

The project will introduce cutting-edge solutions for energy storage, grid stability and managing electricity demand during peak times, thus ensuring a sustainable and resilient supply of electricity. It will play a crucial role in integrating renewable energy sources, supporting Assam's journey toward a greener future, the release concluded.

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