Adani Power Limited has acquired 100% of Udupi Power Corporation Limited from Lanco Infratech for over Rs 6000 crore, enhancing its capacity to 10,440 MW and establishing a foothold in southern India.

Information on the Target

Adani Power Limited has successfully acquired 100% of the shares of Udupi Power Corporation Limited from Lanco Infratech Limited. The deal, exceeding Rs 6000 crore, adds a noteworthy operational asset to Adani Power's portfolio. The Udupi Power Plant has a current installed capacity of 1,200 MW and is powered entirely by imported coal, supported by a captive jetty with a capacity of 4 million tons per annum. The plant primarily serves the State of Karnataka, providing 90% of its generated electricity, while the remaining 10% is allocated to the State of Punjab.

This acquisition aligns with Adani Power's strategic vision to expand its operational footprint and capacity across India, specifically focusing on enhancing energy availability in southern states. Furthermore, an agreement to expand the Udupi plant's capacity by an additional 1,320 MW has been executed with the Government of Karnataka, solidifying future growth prospects.

Industry Overview in India

The Indian power sector is undergoing significant transformation, driven by increasing electricity demand due to rapid industrialization and urbanization. As of 2023, India ranks among the largest producers and consumers of electricity globally, with a robust fo