Adani Power To Invest ₹2 Lakh Crore, Lifts Capacity Target To Nearly 42 GW By FY32

Adani Power (NSE: ADANIPOWER) has increased its long-term installed capacity target to 41.87 gigawatts (GW) by FY32, marking a major upgrade from its earlier goal of 30.67 GW by FY30. This move reflects the company’s aggressive expansion strategy in India’s thermal power sector.

Current Capacity And Expansion Pipeline

At present, Adani Power operates 18.15 GW of generation capacity. This means the company plans to add another 23.72 GW over the next few years. According to sources, land for all upcoming projects is already secured, and orders for key equipment have been placed.

₹2 Lakh Crore Capital Expenditure Plan

The company has committed around ₹2 lakh crore (about $22 billion) in capital expenditure through FY32. This is among the largest investment plans announced by any private-sector thermal power producer in India.

Why Adani Power Is Expanding Rapidly

India is entering a phase of strong and long-term growth in electricity demand, driven by industrial expansion, urbanisation, and rising consumption. While renewable energy capacity is growing fast, thermal power continues to play a key role in providing stable baseload power and supporting grid balance.

Industry estimates suggest:

• Peak power demand could rise from ~250 GW currently to 400 GW by 2031–32
• Demand may cross 700 GW by 2047
• The government aims to add 100 GW of new thermal capacity by 2035

Capacity Additions And Acquisitions In 2025

During 2025, Adani Power increased its capacity from 17,550 MW to 18,150 MW, including the acquisition of Vidarbha Industries Power Ltd, a 2×300 MW plant near Nagpur.

The company also won multiple competitive power supply bids in Uttar Pradesh, Bihar, Madhya Pradesh, and Assam.

Major Projects Announced

Key projects announced in 2025 include:

• 1,500 MW project in Uttar Pradesh (around $2 billion investment)
• 2,274 MW project in Bihar (around $3 billion investment)
• 1,600 MW ultra-supercritical project in Madhya Pradesh (₹21,000 crore)
• 3,200 MW greenfield project in Assam (₹48,000 crore)

Entry Into Hydropower And Fuel Security

Adani Power has also entered the hydropower segment through an agreement with Bhutan’s Druk Green Power Corporation for the 570 MW Wangchhu hydro project.

On fuel security, the company has received approval to operationalise the Dhirauli captive coal mine in Madhya Pradesh, with a peak production capacity of 6.5 million tonnes per year.

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Focus Areas Going Ahead

For 2026 and beyond, Adani Power plans to:

• Speed up construction of new thermal projects
• Ramp up captive coal mining
• Expand hydropower partnerships
• Increase digitalisation to improve efficiency and reliability

The projects are also expected to generate large-scale employment during both construction and operations.

Conclusion

Adani Power’s ₹2 lakh crore investment plan and higher capacity target highlight its ambition to play a central role in India’s energy security. With demand rising sharply, the company is positioning itself for long-term growth through large-scale thermal and hydro projects.

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