Adani Power announces Q2 FY25 results.Adani Power Ltd. [“APL”], a part of Adani portfolio companies,
today announced the financial results for the second quarter ended 30 th September 2024. Mr. S B Khyalia, CEO, Adani Power Limited, said, “Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability. The Company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages.
Its diverse capabilities and financial resilience provide a solid foundation for growth, enabling it to realize its vision of supporting India’s economic development with reliable, sustainable, and affordable power supplies. Additionally, we are committed to rapidly turning around our recently acquired stressed power plants by utilizing our core competencies and strengths.”
Operating performance
Parameter H1 FY25 H1 FY24 Q2 FY25 Q2 FY24
Effective Installed Capacity 15,545 14,861 15,837 15,250
Plant Load Factor 72.3% 59.2% 66.9% 58.3%
Units Sold 46.0 35.6 21.9 18.1
MW: Mega Watts; BU: Billion Units
Power demand was flat during Q2 FY25 as compared to the corresponding quarter of FY24. This was primarily due to climatic conditions such as a delayed but prolonged rain spell affecting demand.
Nevertheless, cumulative demand for FY 2024-25 till 30 th September 2024 was robust with a growth of 5% over the first half of FY 2023-24. Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation.
Business updates
APL has achieved operating generation capacity of 17,550 MW as on 30th September 2024
with the addition of 2,300 MW operating capacities, comprising:
o 2×250 MW (500 MW) Adani Dahanu Thermal Power Station (“ADTPS”), acquired under a Business Transfer Agreement on 30 th September 2024.
o 2×300 MW (600 MW) Lanco Amarkantak Power Limited (“LAPL”), acquired under Corporate Insolvency Resolution Process (“CIRP”) under the aegis of the Insolvency and Bankruptcy Code (“IBC”) on 6th September 2024. LAPL has been renamed to Korba Power Limited (KPL) subsequent to the acquisition.
o 2×600 MW (1,200 MW) Coastal Energen Private Limited (“CEPL”), acquired under CIRP under the aegis of IBC on 31 st August 2024. CEPL has been amalgamated at the time of acquisition with Moxie Power Generation Limited (“MPGL”), a Special Purpose Vehicle of the acquiring consortium, in which APL holds a 49% equity stake.
APL received a Letter of Award from the Maharashtra State Electricity Distribution Company Ltd. for supply of power under a 25-year, 1,496 MW (net) Power Supply Agreement, to be supplied from a new 2×800 MW (1,600 MW) Ultra-supercritical thermal power project.
Key operating highlights for Q2 and H1 FY25
Power supplied from the MPGL and KPL power plants post-acquisition has contributed to the aggregate power dispatch growth in H1 and Q2FY25. These figures do not include the operating performance of ADTPS, which was acquired on 30 th September 2024.
Merchant sales witnessed substantial growth during H1 and Q2 FY25 as compared to the corresponding periods of FY24 due to strong power demand, coupled with the Company’s competitive advantages in serving this market. Power offtake under Power Purchase Agreements (“PPAs”) also witnessed significant growth during both periods owing to strong power demand from DISCOMs, supported by lower fuel costs, and full-period operation of the Godda power plant.
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