The Adani Group has announced a Rs. 63,000 crore investment in Assam, toward two large-scale power projects that will strengthen the state’s energy infrastructure and support the country’s long-term electricity demand.
The investment spans a new 3,200 MW coal-based thermal power plant and a 500 MW pumped hydro energy storage project, awarded through bidding by the Assam Power Distribution Company Ltd (APDCL).
Adani Power Ltd will invest about Rs. 48,000 crore to build a greenfield 3,200 MW thermal power plant, which will become one of the largest private-sector energy assets in Northeast India.
The project, comprising four units of 800 MW each, has been awarded on a Design, Build, Finance, Own, and Operate (DBFOO) basis and includes a long-term power supply contract with APDCL for the plant’s entire capacity.
Coal for the facility will be sourced under the Centre’s SHAKTI policy. The commissioning will begin in phases from December 2030, with the entire project expected to be operational by December 2032.
The investment represents a renewed surge of private interest in coal-fired power generation, a sector that saw minimal activity for more than a decade.
Adani Power, which announced multi-billion-dollar coal power expansion plans earlier this year, aims to increase its total generation capacity from 18 GW to 42 GW by FY2032.
Along with the thermal project, Adani Green Energy will invest around Rs. 15,000 crore to develop two pumped storage projects of 2,700 MW.
Adani Saur Urja (KA) was awarded a Letter of Award (LoA) by APDCL for constructing a 500 MW pumped hydro energy storage project.
The contract stipulates that the project will be paid a flat annual fixed tariff of Rs. 1,02,92,887 per MW for a period of 40 years, generating long-term visibility and economic viability with regard to tariff.
Pumped hydro storage remains a key technology for addressing variability in renewable power (also known as flexibility), and Adani Green is growing rapidly in that segment and has set a target of 50GW of clean energy by 2030.
Adani Power shares have climbed about 47% year to date indicating ongoing investor confidence in the company's growth. Adani Green Energy shares have shown an increase of about 4% for the same period.
The announcement of solar capacity in the same month as Gautam Adani, chairman of the Group, announced intent to invest Rs. 50,000 crore in the northeastern area of India and in conjunction with the broader Group's move to build the conventional and renewables energy mix across the country.
In addition to the Rs. 1 trillion investment in Andhra Pradesh and continued momentum towards larger renewable portfolio development, the Group's commitment to growth in Assam clearly positions Adani as having a key/modifying influence in India's next phase of energy stability transition.