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Adani Power Unveils Rs1.2 Lakh Crore Capex Plan to Nearly Double Capacity by 2030

Adani Power Ltd (APL), India's largest private sector power producer, has announced a massive Rs1.2 lakh crore capital expenditure plan over the next six years, aiming to nearly double its generation capacity from the current 17.6 GW to 30.7 GW by 2030. This marks the most ambitious capacity expansion by any private player in the Indian power sector and positions Adani to meet the country’s growing energy demand amid a shifting energy mix.

APL plans to fund this investment entirely through internal accruals, citing its consistently strong financial performance. The company has been generating an EBITDA of over Rs21,000 crore annually and expects continued robust earnings to sustain its expansion.

The capex will focus primarily on adding ultra supercritical thermal capacity, with advanced orders already placed for 11.2 GW worth of boiler, turbine, and generator (BTG) equipment to ensure supply chain readiness. Key sites for these developments include brownfield expansions of 300 MW each at Mahan (Madhya Pradesh) and a 1,320 MW capacity augmentation at Raipur and Raigarh in Chhattisgarh.

Adani Power’s existing portfolio includes major plants in Mundra (4,620 MW), Tiroda (3,300 MW), Udupi (1,200 MW), Godda (1,600 MW), and Raipur (1,370 MW), among others. The company has locked in 13.1 GW of capacity growth to meet its 2030 target.

This move by Adani Power aligns with India’s broader energy strategy, where even state-run NTPC is planning a 30 GW thermal capacity addition by 2032. With nearly 90% of APL’s output under long-term power purchase agreements and continued strength in merchant power demand, the company appears well-positioned to lead the next phase of India’s thermal power evolution.

By securing future equipment and leveraging strong financials, Adani Power signals a confident and aggressive push to dominate India’s power sector well into the next decade.