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Tower-Adani JV to set up USD 10-bln semiconductor plant in Maharashtra

India, News

The Maharashtra Cabinet panel on 5 September, 2024, approved a Rs 839.47 billion investment proposal by the Tower Semiconductor-Adani Group joint venture (JV) to establish a semiconductor chip manufacturing plant in Panvel, Raigad district. The facility, located in Taloja, will have an initial capacity of 40,000 wafer starts per month (WSPM) in the first phase, with plans to expand to 80,000 WSPM in subsequent phases. The first phase will involve an investment of Rs 587.63…

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Adani Power to triple Kawai thermal plant capacity with Rs 180 billion investment

India, News

Adani Power plans to triple the capacity of its Kawai thermal power plant in Rajasthan, increasing it from 1,320 MW to 4,520 MW, with an investment of up to Rs 180 billion. The expansion will be carried out in two phases, each adding 1,600 MW over the next few years. As part of its broader strategy to double its thermal power capacity, Adani Power is also setting up new plants and expanding existing ones across…

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Adani Green and TotalEnergies to form joint venture with $444 million investment

India, News

India’s Adani Green Energy announced that its board has approved agreements for a TotalEnergies affiliate to invest $444 million in a new joint venture with the company. This follows a previous $300 million deal between Adani Green and the French oil major to expand renewable energy capacity in India, where coal remains the primary energy source. The joint venture will include Adani Green, Adani Renewable Energy Sixty Four, and TotalEnergies Renewables Singapore, with each company…

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Khavda IV A project boosts Adani Energy Solutions’ transmission portfolio

India, News

Adani Energy Solutions Ltd (AESL) has expanded its transmission portfolio to 21,783 ckm and its transformation capacity to 61,686 MVA with the acquisition of the Khavda IV A transmission project. This project, acquired from RECPDCL under the tariff-based competitive bidding (TBCB) route, will be developed as an interstate transmission system (ISTS) under the build, own, operate & transfer (BOOT) model for 35 years. The Khavda IV A line will evacuate 7 GW of renewable energy,…

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Adani Energy and Sterlite secure ISTS projects from RECPDCL

India, News

REC Power Development & Consultancy Ltd (RECPDCL), the bid process coordinator, has transferred two interstate transmission system (ISTS) project special purpose vehicles (SPVs) to Adani Energy Solutions Ltd (AESL) and Sterlite Power, under the tariff-based competitive bidding (TBCB) mechanism. The first project SPV, Khavda IV A Power Transmission Ltd, has been awarded to Adani Energy Solutions Ltd. This project is part of the transmission system for Khavda Phase IV (7 GW) – Part A, located…

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Adani Power establishes subsidiary in Abu Dhabi to expand in Middle East

India, News

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…

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BHEL secures Rs 110 billion orders from Adani Power

India, News

Bharat Heavy Electricals Ltd (BHEL) has secured three major orders from Adani Power Ltd and its subsidiary Mahan Energen Ltd to supply main plant equipment, including boilers, turbines, and generators, and oversee the erection and commissioning of three upcoming supercritical coal-based power projects. The total value of these orders exceeds Rs 110 billion, excluding GST. The projects awarded to BHEL are: Kawai (Phase-II), 2×800-MW, Rajasthan Kawai (Phase-III), 2×800-MW, Rajasthan Mahan (Phase-III), 2×800-MW, Madhya Pradesh The…

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Adani Power faces $800 million in unpaid dues from Bangladesh amid political turmoil

India, News

Billionaire Gautam Adani’s power unit, Adani Power Ltd., is owed as much as $800 million by Bangladesh for electricity supplied from its coal-fired plant in the Godda district of Jharkhand, India. The dues come as Bangladesh faces economic challenges, including weeks of violent protests that led to the ousting of the previous administration. Bangladesh Bank’s newly-appointed Governor, Ahsan H. Mansur, told Bloomberg that failure to pay could result in a halt of electricity supply, although…

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Adani Power to acquire Lanco Amarkantak Power for Rs 41.01 billion

India, News

Adani Power announced that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 41.01 billion. LAPL is currently undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code. Under the approved plan, Adani Power will acquire 100% shareholding in LAPL for cash. LAPL operates a 2×300 MW (600 MW) thermal power plant in Korba, Chhattisgarh,…

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Lenders of KSK Mahanadi Power plan new auction after Adani’s Rs 270 billion bid

India, News

Lenders of the bankrupt KSK Mahanadi Power Company, which operates a 3,600 MW coal-based power plant in Chhattisgarh, are planning another auction round in early September. This decision follows the Adani Group emerging as the highest bidder with an offer of Rs 270 billion. Competing bidders will be allowed to surpass Adani’s offer in this new auction. KSK Mahanadi currently has three operational units of 600 MW each, with additional units under construction. In the…