Adani Power Ltd, India’s largest private thermal power player, today unveiled an incorporation of its wholly-owned subsidiary, Adani Power Middle East Ltd., incorporated in Abu Dhabi, United Arab Emirates. In an announcement to the exchanges, the company stated that this strategic move would substantially expand its international footprint. And reaffirm its commitment to making investments in the power and infrastructure sector.
Adani Power Middle East Ltd., the newly formed subsidiary, will carry out business in power generation, infrastructure projects, and other allied sectors. As per the exchange filing, the authorized capital of this subsidiary is USD 27,000 consisting of 27,000 equity shares of USD 1 each. Adani Power Limited holds 100 percent of the shares in Adani Power Middle East Ltd. Consequently, Adani Power Limited fully owns the new subsidiary.
Adani Power Ltd is the largest private thermal power generator in India. With an overall generation capacity of 15,250 MW from its power plants located across Indian states. Like Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and one 40 MW solar power project in the state of Gujarat, showcasing a diversified basket of energy resources.
Perhaps most importantly, no other project in the global energy arena can claim this honor. Adani Power Limited is the first in the world to set up a coal-based Supercritical thermal power project. That is registered under the Clean Development Mechanism of the Kyoto Protocol. This speaks volumes about APL’s commitment to taking forth an agenda of sustainable energy.
Adani Power Limited and its subsidiary Mahan Energen Limited have signed a major contract with Bharat Heavy Electricals Limited. The deal, estimated at Rs 11,000 crore, was inked on August 25, 2024. BHEL will supply key equipment and handle the erection and commissioning of three major supercritical thermal power projects. Consequently, the company will operate with a capacity of 2×800 MW. And will utilize advanced Supercritical Technology in its design.
This unique contract will cover three power projects. Kawai Phase-II and Kawai Phase-III in Rajasthan and, thirdly, Mahan Phase-III in Madhya Pradesh. The investment in these developments is a major step toward enhancing the overall power infrastructure of India. And corresponds with the larger vision and strategic objectives of Adani Power to scale up the role in the energy sector.
The setting up of Adani Power Middle East Ltd. includes all the papers as well as a greater strategy by the company toward international expansion. And investment in global energy and infrastructure markets. This subsidiary would be a major enabler as Adani Power forays into the Middle Eastern market and seeks to exploit growth opportunities in the region.
Adani Power Limited’s further developments continue to underline its commitment to developing energy infrastructure in the country. As well as internationally and truly signify its place as one of the new global powerhouses to reckon with.
ANI