Adani Power

Supply was to start in March. However, Bangladesh Power Development Board had sought relief from rising imported coal prices. Unit will source coal from Adani-owned Carmichael mine in Australia

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. Adani Power Ltd (APL), a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The plant has started with supplying 748 MW of power to Bangladesh, a company statement said. The electricity supplied from Godda will significantly improve the situation in the neighbouring country as it will replace expensive power generated from liquid fuel, bringing down the average cost of power purchased, it stated. The Godda Power Plant is a strategic asset in the India-Bangladesh's long-standing relationship, said S B Khyalia, CEO of Adani Power, in the statement. It is the first power plant in the country, which has started its operations from Day One with 100 per cent Flue Gas Desulphurization (FGD), SCR and Zero Water Discharge, it stated. In November 2017, Bangladesh Power Development

Adani Power Ltd (APL) on Friday said a 800 MW unit at its thermal plant in Jharkhand has begun commercial operations. The second unit of the 1600 MW project is also in an advanced stage of completion and expected to be commissioned soon, the Adani Group company said in a filing. "This is to inform unit 1 of 800 MW capacity of the 2x800 MW ultra-supercritical power project of Adani Power (Jharkhand) Limited (APJL), situated in Godda has achieved commercial operations," it said. APJL, a wholly-owned subsidiary of Adani Power, will supply the power under a 25-year Power Purchase Agreement (PPA) for corresponding net capacity of 748 MW from unit 1 to the Bangladesh Power Development Board. "APJL has started processing its claims under the PPA with effect from April 6, 2023," it said.

The commission cited an increase in fuel cost, power purchase cost and shortfall in revenue due to the impact of Covid-19, and an increase in transmission system costs

NCP chief Sharad Pawar put his weight behind the Supreme Court constituted 6-member committee, appointed by the Chief Justice of India to probe the alleged stock manipulation issue by the Adani Group

The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares

The Gujarat government has paid Rs 16,900 crore to Adani Power and Tata Power for purchasing electricity during the last two years, the state Assembly was informed on Monday. As per the data tabled by Energy Minister Kanubhai Desai during Question Hour, the state government paid Rs 8,160 crore to Adani Power Mundra Ltd while Rs 8,784 was paid to Coastal Gujarat Power Ltd, a wholly owned subsidiary of Tata Power, in 2021 and 2022. While responding to a set of questions raised by Congress MLAs about the purchase of electricity from these private players, Desai said the state government paid Rs 2,760 crore to Adani Power in 2021 to buy 5,589 million units while Rs 5,400 crore was paid to the firm in 2022 for nearly 6,000 million units. In 2021, the state government paid Rs 2,751 crore to Tata Power to buy 7,315 million units, while the cost came to Rs 6,033 crore for 10,446 million units in 2022. The data suggested per unit cost of Rs 2.83 paid to Adani in January 2021 went up to Rs 8

All the ten listed firms of the Adani group ended the day in the negative territory on Monday, with Adani Power, Adani Transmission, Adani Wilmar and Adani Total Gas falling nearly 5 per cent each. Shares of Adani Power tanked 4.98 per cent, Adani Transmission tumbled 4.98 per cent, Adani Wilmar dived 4.93 per cent and Adani Total Gas slumped 4.91 per cent on the BSE. The stock of NDTV went lower by 4.60 per cent, Adani Green Energy fell by 4.40 per cent, Adani Ports dropped 1.43 per cent, ACC dipped 1.01 per cent, Adani Enterprises declined 0.99 per cent and Ambuja Cements (0.59 per cent). Many of the group firms hit their lower circuit limits during the day. In the equity market, the 30-share BSE Sensex climbed 126.76 points or 0.22 per cent to finish at 57,653.86 after a volatile trade. Out of the ten listed firms of the Adani group, seven companies ended the day in the negative territory on Friday. Stocks of eight Adani group companies out of the 10 listed entities closed in t

Leading bourses NSE and BSE on Wednesday said they will include Adani Power under the short-term additional surveillance measure (ASM) framework from Thursday. Adani Power is shortlisted in short-term ASM framework Stage-I effective March 23, according to separate circulars available on the exchanges. The move also comes close on the heels of the two exchanges moving Adani group stocks -- Adani Green Energy and NDTV -- from the second stage of the long-term ASM framework to Stage I on Monday. Interestingly, both the exchanges had put Adani Power along with Adani Enterprises and Adani Wilmar under short-term ASM on March 8. However, these three stocks were excluded from the short-term ASM framework on March 17. Currently, there is no Adani group stock in the short-term ASM framework. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. The NSE and BS

Adani Power on Thursday said it has sold a 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX) at an enterprise value of Rs 1,556.5 crore. "Parties to the proposed transaction (for which a binding memorandum of understanding had been signed earlier) have executed a Share Purchase Agreement and concluded the transaction," a BSE filing stated. Earlier in November last year, Adani Power had entered into a memorandum of understanding (MoU) to sell its 100 per cent equity stake in its wholly-owned subsidiary Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX). The enterprise valuation (of a 100 per cent stake in SPPL) was estimated at Rs 1,556.5 crore, subject to adjustments on the closing date. The ACX is a 50:50 joint venture between Adani Enterprises Limited, which is a promoter group company, and EdgeConneX. It is engaged in the business of developing world-class data centres and providing co-location hosting and ancillary

Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles

The National Stock Exchange (NSE) and the BSE has announced that three Adani group companies -- Adani Enterprises, Adani Power and Adani Wilmar -- will move out of the short-term additional surveillance measure (ASM). The stocks will be excluded from the short-term ASM framework with effect from March 17, according to separate circulars available on the exchanges. The NSE and the BSE had put the three Adani group firms, including the flagship firm Adani Enterprises, under the ASM framework on March 8. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. In addition, the NSE said that on these securities, "margins to be restored prior to ASM on all existing derivative contracts." Tata Teleservices (Maharashtra) Ltd (TTML) is also another stock that was excluded from the framework. "Applicable rate of margin shall be 50 per cent or existing margin ..

CLOSING BELL: Bottom fishing in select heavyweights lifted benchmark indices off lows, leading to a positive close for a third consecutive day on Wednesday

So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.

Adani Power on Tuesday said it has amalgamated its six subsidiaries, including Adani Power (Mundra), with itself. An amalgamation of six wholly-owned subsidiary companies of Adani Power Ltd (APL) -- Adani Power Maharashtra Ltd (APML); Adani Power Rajasthan Ltd (APRL); Udupi Power Corporation Ltd (UPCL); Raipur Energen Ltd (REL); Raigarh Energy Generation Ltd (REGL) and Adani Power (Mundra) Ltd (APMuL) -- with APL was sanctioned by the Ahmedabad-bench of National Company Law Tribunal on February 8, 2023, a BSE filing stated. "We wish to update that all the conditions stated under the Scheme for making it effective have been satisfied, and hence the Scheme is now effective from the Appointed Date i.e. October 1, 2021, as specified thereunder," it said. The six companies -- APML, APRL, UPCL, REL, REGL and APMuL -- now stand amalgamated with APL, it added. Accordingly, it said, the company will publish financial statements for FY 2022-23 based on amalgamation and will also recast ...

Adani Power has revised downwards the contracted electricity supply capacity with two discoms of Haryana to 600 MW each, from 712 MW each earlier, under supplementary power purchase agreements for its Mundra plant. The two discoms -- Dakshin Haryana Bijli Vitran Nigam Ltd and Uttar Haryana Bijli Vitran Nigam Ltd -- will now get a supply of 600 MW each against earlier contracted capacity of 712 MW. Under the terms of the SPPAs (supplementary power purchase agreements), the net capacity contracted with Haryana discoms has been revised to 600 MW each, or 1,200 MW in aggregate (1,320 MW in aggregate at generation end), as delivered, considering availability of domestic coal linkage, a BSE filing stated. Adani Power Ltd has signed SPPAs with Dakshin Haryana Bijli Vitran Nigam Ltd and Uttar Haryana Bijli Vitran Nigam Ltd in respect of its two existing Power Purchase Agreements (PPAs) of net contracted capacity of 712 MW each (1,566 MW in aggregate at generation end), which is being suppli

The National Company Law Appellate Tribunal (NCLAT) has upheld the 2019 Resolution Plan of Adani Power's bid for Korba West Power and has asked Shapoorji Pallonji & Co to pursue arbitration proceedings for pending claims. A two-member NCLAT bench said "there is no illegality in the order of the approval of the resolution plan by the Adjudicating Authority (NCLT) and it does not see any reason to set aside the resolution plan by Adani Power. The appellate tribunal was deciding over a petition filed by Shapoorji Pallonji & Co, against an order passed by the Ahmedabad Bench of the National Company Law Tribunal (NCLT) on June 24, 2019 approving the resolution plan by Adani Power. Shapoorji Pallonji & Co has claims of Rs 45.22 crore and an arbitration was going for the same. However, Korba West Power has itself triggered the Corporate Insolvency Resolution Process (CIRP) under section 10 of the Insolvency and Bankruptcy Code. Following this, the company came under moratorium ...

Adani Ports and Special Economic Zone (APSEZ) crossed 300 million metric tonne (MMT) of cargo handling on Thursday. The company crossed the cargo handling in just 329 days. APSEZ has registered growth since it started operations over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly, the company said in a statement. "APSEZ's flagship port, Mundra, is outpacing all its closest rivals by comfortable margins and continues to be the largest port in the nation in terms of volumes handled," APSEZ CEO and Whole Time Director Karan Adani said. APSEZ, a part of Adani Group, has evolved from a port company to an integrated transport utility providing an end-to-end solution from its port gate to customer gate.

Adani Power on Friday said its subsidiary APML and Orient Cement have decided to terminate a pact signed between the two entities for utilisation of a parcel of land in Maharashtra. The pact, which was signed in September 2021, had a validity period of six months. In a regulatory filing, Adani Power said its wholly-owned subsidiary Adani Power Maharashtra Limited (APML) had signed a non-binding Memorandum of Understanding (MoU) with Orient Cement Limited (OCL) on September 23, 2021 for allowing utilisation of a parcel of land on sub-lease basis, which has been taken on lease by APML from MIDC at its power plant at Tiroda, Maharashtra. The said MoU had a validity period of six months from the date of signing, with a maximum time limit of 365 days for the parties to the MoU for fulfilling their respective conditions, it said. "However, as the parties were unable to fulfill the said conditions after a considerable lapse of time beyond the validity period, it was mutually decided to ..

India's Adani Power on Thursday promised to supply electricity to Bangladesh at a reduced price keeping consistent with the generation cost in the country's existing coal-fired plants. The Adani will import the coal for its plants at the same price the Bangladeshi coal-run plants do for themselves, the mass-circulation Prothom Alo newspaper reported quoting an Adani official. It said the Indian company agreed to revise its procurement price for coal to keep the per unit power price almost equal to those of Bangladeshi coal-fired plants like the Rampal and Payra, the two joint-venture installations with India and China. A responsible official of Adani group in Bangladesh has confirmed the development to Prothom Alo, the newspaper reported while Bangladesh officials declined to comment immediately. Bangladesh's state-run Power Development Board (PDB) earlier this month sought to revise to a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated ...