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Adani Power Plans Rs 8,000 Crore Fundraise for Expansion
13 May
Summary
- Adani Power aims to raise Rs 8,000 crore through local debt markets.
- Expansion plans target 41,870 MW capacity by FY2032.
- Fundraising includes public debt and lender group loans.
Adani Power Ltd., India's largest private thermal power producer, is embarking on a substantial fundraising initiative, aiming to secure Rs 8,000 crore (approximately $836 million) via local debt markets within the current year. This strategic financial move is designed to support its significant expansion goals.
The planned fundraising comprises Rs 50 billion in public debt and an additional Rs 30 billion sourced from a consortium of lenders, with the State Bank of India leading the group. These funds will diversify borrowing and secure longer-term financing for Adani Power.
Adani Power has set an ambitious target to expand its generation capacity to 41,870 megawatts by the fiscal year ending in 2032, a substantial increase from its current installed capacity of just over 18,000 megawatts.
Earlier this year, Adani Power successfully raised Rs 75 billion through local bonds and is considering issuing bonds to individual investors in the upcoming months. The company's strong market position and diversified portfolio have earned it an AA grade from Crisil Ratings, a local arm of S&P.
