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Adani Group
Source Name: Adani Group

Adani Power to Acquire Lanco Infratech’s Udupi Project for Rs 6000 Crore, Installed Capacity to Rise to 10,440 mw

Aug 14, 2014   16:36 IST 
Ahmedabad, Gujarat, India

Editor’s Synopsis

•    Adani Power acquires Lanco Infratech’s Udupi power plant
•    Deal valued at more than Rs.6000 crore
•    Adani Power’s installed capacity to rise to 10,440 MW
•    Adani Power is India’s largest private sector power generation company
Adani Power Limited, a subsidiary of Adani Enterprises Ltd and a part of Adani Group, today said it had executed a definitive agreement for acquisition of 100% shares of the Udupi Power Corporation Limited from Lanco Infratech Limited.

Adani power is India’s largest private sector power generation company with a current operational capacity of 8,580 MW, comprising of 4,620 MW at Mundra in Gujarat, 2,640 MW at Tiroda in Maharashtra and 1,320 MW at Kawai in Rajasthan. With one more unit of 660 MW commissioning at Tiroda shortly and the acquisition of 1200 MW Udupi power plant, the installed base of APL will increase to 10,440 MW, getting Adani Power closer to its goal of achieving 20,000 MW of capacity by 2020. 

The deal is valued at more than Rs 6000 crore. The Udupi Power Plant is an operational power project based on 100% imported coal with a captive jetty of 4 million tons per annum. The project supplies 90% of the power generated to State of Karnataka and 10% to State of Punjab. An agreement for expansion of 1320 MW capacity has already been executed with the Government of Karnataka.

The acquisition of Udupi thermal power station located in the state of Karnataka is a strategic fit to the integrated infrastructure business model of the Adani Group and establishes Adani Power’s presence in Southern India. Adani Power will endeavor to expand the capacity of Udupi expeditiously, leveraging its project execution capabilities. Adani Power is also committed to seize further opportunities for capacity addition and provide much needed energy security of southern India.   

Macquarie Capital was the lead advisor to the transaction alongwith SBI Caps

About The Adani Group:

The Adani Group is one of India’s leading business houses with revenue of over $9.4 billion.

Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies.

We live and work in the communities where we operate and take our responsibilities to society seriously. The Group protects biodiversity in ecologically sensitive areas like Mundra and undertakes initiatives to reduce CO2 emissions. At Adani, we deliver benefits to our customers and customers’ customers.

Resources means obtaining coal from mines and trading; in future it will also include oil and gas production.

Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, we are one of the largest coal importers in India. We also have extensive interests in oil and gas exploration. Extractive capacity is scheduled to 200 MMT per annum by 2020.

Logistics denotes a large network of ports, Special Economic Zone (SEZ) and multi-modal logistics - railways and ships.

Adani owns and operates six ports – Mundra, Dahej, Hazira, Dhamra, Goa and Visakhapatnam in India. The Mundra Port, which is the largest port in India, benefits from deep draft, first-class infrastructure and SEZ status. It crossed the 100 MMT mark of cargo handling in FY14. Adani is also developing ports at Kandla and Ennore in India.

Energy involves power generation & transmission and gas distribution.

Adani is the largest private thermal power producer in India. Our power generation capacity is expected to increase from current 8,620 MW to 9,280 MW.

We are currently developing six power projects across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh. 


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