Adani Power to go slow on capacity addition
04 April 2014
Adani Power, which has overtaken Tata Power as the nation's largest private-sector electricity producer, now plans to slow down on new capacity addition due to uncertainties over fuel supply, weak financial health of state distributors and environmental approval delays.
Adani Power yesterday commissioned the fourth 660 MW unit of its Tiroda project in Maharashtra, which took the Gujarat-based company's total installed capacity to 8,620 MW as against Tata Power's installed capacity 8,560 MW.
"This is an important milestone in the history of Indian power generation as Adani Power has added 2,640 MW in the last financial year, accounting for nearly 15 per cent of the overall capacity addition of about 17,000 MW in the country," the company had said yesterday.
Tata Power has 1,000 MW in advance stage of commissioning and is considering 849.2 MW of wind, solar, hydro and gas energy based projects in India and overseas.
Adani Power accounted for 15 per cent of the 17,000 MW capacity addition by developers in India during 2013-14 and hopes to maintain its leadership position in the sector but will not make any announcement of new projects now.
The Economic Times quoted chief executive Vineet Jaain as saying the company would add only one more 660 MW unit at Tiroda to close this fiscal year with installed capacity of 9,280 MW. He added, instead of capacity addition, in view of the ongoing concerns in the sector, the company would focus on consolidating its position.
Meanwhile, shares of Adani Power were up today by nearly 5 per cent after the company said its overall generation capacity increased to 8,620 MW, making it the country's "largest private power producer".