Adani Power Targets 41.87 GW Capacity by FY32, Commits ₹2 Lakh Crore Capex
Adani Power has announced plans to expand its long-term capacity to 41.87 GW by FY32, up from its current 18.15 GW. This expansion involves a ₹2 lakh crore capital expenditure commitment. The company has secured a 23.72 GW pipeline with land acquisition and key equipment orders in place. Adani Power has also won competitive power supply tenders in multiple states and announced several ultra-supercritical greenfield projects. To support its growth, the company has received approval to operationalize the Dhirauli captive coal mine in Madhya Pradesh.
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Adani Power has announced a significant expansion of its long-term capacity target to 41.87 gigawatt (GW) by FY32, accompanied by a capital expenditure commitment of approximately ₹2 lakh crore. This represents one of the most aggressive private-sector expansion plans in India's thermal power industry, positioning the company to potentially capitalize on the country's multi-decade rise in electricity demand.
Revised Capacity Targets and Investment Plans
The company's updated capacity target marks a substantial increase from its earlier plan of 30.67 GW by FY30. Currently operating 18.15 GW of generation capacity, Adani Power has secured an additional pipeline of 23.72 GW with land already in possession and key equipment orders placed.
| Parameter | Details |
|---|---|
| Current Capacity | 18.15 GW |
| FY32 Target | 41.87 GW |
| Additional Pipeline | 23.72 GW |
| Total Capex Commitment | ₹2 lakh crore (USD 22 billion) |
| Previous Target (FY30) | 30.67 GW |
The ₹2 lakh crore capital expenditure commitment through FY32 represents the largest investment by a private-sector thermal power producer, underlining the company's confidence in India's growing energy requirements.
Recent Capacity Additions and Project Wins
Adani Power increased its generation capacity from 17,550 MW to 18,150 MW, including the acquisition of Vidarbha Industries Power Ltd, a 2x300 MW plant near Nagpur. The company has also secured competitive power supply tenders across multiple states including Uttar Pradesh, Bihar, Madhya Pradesh, and Assam.
Major Project Announcements
Adani Power has announced several ultra-supercritical greenfield projects across different states, representing significant investment commitments:
| Project Location | Capacity | Investment |
|---|---|---|
| Uttar Pradesh | 1,500 MW | USD 2 billion |
| Bihar | 2,274 MW | USD 3 billion |
| Madhya Pradesh | 1,600 MW | ₹21,000 crore |
| Assam | 3,200 MW | ₹48,000 crore |
The company has also diversified into hydropower through an agreement with Bhutan's Druk Green Power Corporation for the 570 MW Wangchhu hydroelectric project.
Fuel Security and Mining Operations
To support its expansion plans, Adani Power has received approval to operationalize the Dhirauli captive coal mine in Singrauli, Madhya Pradesh. The mine has a peak production capacity of 6.50 million tonnes per annum and geological reserves of approximately 558 million tonnes, potentially ensuring fuel security for the company's thermal operations.
Market Context and Future Outlook
India's peak power demand is projected to rise from approximately 250 GW currently to 400 GW by 2031-32 and exceed 700 GW by 2047. The government has set a target of adding 100 GW of new thermal capacity by 2035, providing a supportive policy environment for the company's expansion plans.
For 2026, the company's priorities include accelerating construction across new thermal projects, ramping up captive coal mining, expanding hydro partnerships, and increasing digitalization to improve operational efficiency and reliability. The ongoing and planned projects are expected to generate large-scale employment during construction and operations, alongside skill development initiatives in project regions.
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