Industrialist Gautam Adani-led Adani Group is looking to invest around $60 billion up to FY32 in power sector, especially in renewables, generation and transmission/distribution. In an investor presentation, Adani Power said the group plans $21 billion investment by FY30 to scale up renewable energy capacity to 50 GW from 14.2 GW as of FY25.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
Energy and utility companies are shedding their conservative approach to business. They have started adopting new technologies to be more efficient and to save cost.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
The Union government's six-year initiative to unbundle state electricity boards into separate entities for power generation, transmission, distribution and trading businesses is set to be delayed further, with seven states still to do so, even as the Centre's latest time-limit expired on June 30. After 6 years of pushing, just 14 states have turned these into separate units.
The objective of Sahara Power Fund would be to invest "in equities and equity-related securities of companies engaged in the business of generation, transmission, distribution of power or in those companies engaged directly or indirectly in any activity associated with power sector", said the draft document filed with the market regulator SEBI.
Finance Minister P Chidambaram presented the Union Budget for 2008-09 in the Lok Sabha on Friday.
A parliamentary panel on Thursday cleared the much-awaited Electricity Bill that proposes to rationalise electricity tariff and bring about transparency in policy regarding subsidies.
Manmohan Singh estimated that India would need $150 billion equivalent over the next five years to upgrade its infrastructure. That works out to roughly Rs 6,75,000 crore. But that may be an underestimate.
The government on Tuesday moved the Electricity Bill 2001 in the Lok Sabha seeking to consolidate the laws relating to generation, transmission, distribution of power besides rationalisation of tariff in the states.
Goyal's statement comes in the wake of RGPPL board giving its approval last month for the conversion of debt into equity equivalent to interest dues of Rs 405 crore (Rs 4.05 billion).
The prospects for strong, sustained economic reforms do not appear to be promising in India.
Power Minister Piyush Goyal on the government's manufacturing push and other key issues.
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