Adani Power announces Q1 performance

Monday, 5 August 2024 02:11 - - {{hitsCtrl.values.hits}}

Chairperson of Adani Group Gautam Adani

Adani Power Ltd. (“APL”), a part of Adani portfolio companies, recently announced the company’s performance for the first quarter ended 30 June 2024.

Adani Power Ltd. CEO S.B. Khyalia said, “As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector. Our strategic focus is to derisk our growth plans by utilising high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalising the organisation to become more agile and competitive in the digitalised world. Adani Power is dedicated to enhancing lives and ensuring India’s energy security by proactively addressing the need for sustainable, affordable, and reliable power, while also being a responsible steward of the environment and surrounding communities.”

Power demand is continuing to exhibit strong growth across the South Asian region, with aggregate power demand in the first quarter growing at 10.6% year-on-year and peak demand growing at 12% to reaching a record level of 250 GW. This positive environment for the power sector has resulted in higher offtake from APL’s power plants from both contracted capacities and open capacities.

During Q1 FY 2024-25, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned on 26 June 2023. Domestic power sales volumes continued to be driven by growing power demand, and offtake under Power Purchase Agreements (PPAs) was further supported by falling prices of imported coal.

ESG performance

APL has published first Integrated Annual report as per Integrated Reporting () standards along with its third Business Responsibility Sustainability Report (BRSR).

APL maintained its score of B given by the Carbon Disclosure Project (CDP) for 2024, for Fulfilling Climate Change and Water Security Commitments.

APL scored 48/100 in Corporate Sustainability Assessment (CSA) by S&P Global, which is better than World Electric Utilities’ average score of 34/100.

APL scored 88% in CSR HUB ESG Rating in January 2024, which is better than the global industry average.