Adani Power Plans 24 Gigawatt Capacity Addition to Reach 42 GW by FY31-32

0 min read Updated on 30 Jan 2026, 08:57 AM

Reviewed by

Suketu GScanX News Team

Overview

Adani Power has announced plans to add 24 gigawatts of power generation capacity over the next 6 to 7 years, aiming to reach a total capacity of 42 gigawatts by FY31-32. The expansion is driven by expectations of high power demand and improved merchant prices next year, reflecting the company's positive outlook on market conditions.

*this image is generated using AI for illustrative purposes only.

Adani Power has announced significant expansion plans as the company anticipates favorable market conditions in the power sector. The energy company expects high power demand and improved merchant prices next year, setting the stage for substantial capacity additions.

Capacity Expansion Strategy

The company has outlined an ambitious growth roadmap spanning the next 6 to 7 years. Adani Power's expansion plans are structured as follows:

Parameter:	Details
Planned Capacity Addition:	24 gigawatts
Timeline:	6 to 7 years
Target Total Capacity:	42 gigawatts by FY31-32

Market Outlook

Adani Power's expansion strategy is underpinned by positive market expectations. The company anticipates high power demand in the upcoming period, which would support capacity utilization across its portfolio. Additionally, the expectation of improved merchant prices next year suggests a more favorable pricing environment for power generators.

The substantial capacity addition of 24 gigawatts represents a significant scaling up of operations, positioning the company to capitalize on the expected growth in power demand. This expansion would bring the company's total generation capacity to 42 gigawatts by FY31-32, marking a considerable increase from current levels.

Adani Power Reports Q3FY26 Net Profit of ₹24.88 Billion; Hosts Earnings Call

2 min read Updated on 29 Jan 2026, 02:27 PM

Reviewed by

Naman SScanX News Team

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Overview

Adani Power Limited reported Q3FY26 consolidated net profit of ₹24.88 billion, declining 15.38% from ₹29.40 billion in the previous year, with total income at ₹129.95 billion. The company conducted an earnings conference call on January 29, 2026, discussing operational performance and market conditions. With over 90% of its 18.15 GW capacity under long-term PPAs and a 23.7 GW expansion program underway, the company maintains strong revenue visibility despite challenging market conditions.

*this image is generated using AI for illustrative purposes only.

Adani Power Limited has published its unaudited consolidated financial results for the quarter ended December 31, 2025, and subsequently conducted an earnings conference call on January 29, 2026, to discuss the performance with investors and analysts. The power generation company reported results under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

The company's consolidated financial results for Q3FY26 demonstrate mixed performance across key metrics. Total income reached ₹129.95 billion for the quarter, while net profit after tax stood at ₹24.88 billion.

Financial Metric:	Q3FY26	Q3FY25	Change (%)
Total Income:	₹129.95 billion	₹148.33 billion	-12.40%
Profit Before Tax:	₹29.45 billion	₹40.59 billion	-27.45%
Net Profit After Tax:	₹24.88 billion	₹29.40 billion	-15.38%
Total Comprehensive Income:	₹24.85 billion	₹29.33 billion	-15.28%

Operational Performance and Market Conditions

During the earnings call, CFO Dilip Jha explained that power demand in Q3FY26 was weaker than the previous year due to extended monsoons and cooler temperatures. All India power demand remained broadly flat at approximately 392 billion units. Higher renewable generation also impacted thermal demand, leading to lower merchant market prices.

Power sales for Q3FY26 were 23.6 billion units, slightly higher than 23.3 billion units in the same period last year, despite a lower plant load factor of 62.6% compared to 63.9% previously.

Operational Metric:	Q3FY26	Q3FY25
Power Sales:	23.6 billion units	23.3 billion units
Plant Load Factor:	62.6%	63.9%
Installed Capacity:	18.15 GW	-

PPA Portfolio and Revenue Visibility

The company has strengthened its contracted revenue profile with over 90% of its present operating fleet of 18.15 GW tied up under long-term and medium-term PPAs. During the quarter, Adani Power received a Letter of Award for a 3,200 MW project in Assam under the DBFOO model with a total charge of ₹6.30 per kWh, including capacity charge of ₹4.16 per kWh.

Recent PPA Details:	Specifications
Assam Project:	3,200 MW
Total Tariff:	₹6.30 per kWh
Capacity Charge:	₹4.16 per kWh
Karnataka PPA:	570.5 MW at ₹5.78 per kWh

Expansion Program and Financial Position

The company is progressing well on its 23.7 GW thermal expansion program. Mahan Phase-II is approximately 80% complete, Raipur Phase-II is around 44% complete, and Raigarh Phase-II is close to 38% complete. Construction at Korba Phase-II has also resumed.

Adani Power recently raised ₹7,500 crores through AA-rated non-convertible debentures with tenures ranging from 2 to 5 years and coupon rates between 8% to 8.4%. The weighted average cost of borrowing is less than 9%.

Earnings Call Transcript Publication

On February 4, 2026, Adani Power submitted the transcript of the investors/analysts conference call held on January 29, 2026, to BSE Limited and National Stock Exchange of India Limited. The transcript has been made available on the company's website under the Investors Section, providing detailed insights into the company's Q3FY26 performance and future outlook.