Adani Power establishes subsidiary in Abu Dhabi to expand in Middle East
Adani Power has established a wholly-owned subsidiary, Adani Power Middle East, in Abu Dhabi. The new entity was incorporated on 26 August 2024 with an authorized capital of 27,000 shares, each valued at $1. This move is part of Adani Power’s strategy to invest in power, infrastructure, and related fields in the Middle East.
Adani Power, a part of the Adani Group, is India’s largest private thermal power producer. The company reported a 55.33% decline in consolidated net profit to Rs 39.13 billion in Q1 FY25, down from Rs 87.59 billion in Q1 FY24. However, revenue from operations increased by 35.89% year-on-year, reaching Rs 149.56 billion for the quarter ending 30 June 2024.