The Adani Group, led by industrialist Gautam Adani, has unveiled ambitious plans to invest $60 billion in India’s power and renewable energy sectors by FY32, aiming to strengthen generation, transmission, and distribution capabilities.
Renewables Expansion
As part of the roadmap, Adani Power intends to invest $21 billion by FY30 to scale up the group’s renewable energy capacity from 14.2 GW in FY25 to 50 GW. The renewable energy arm, Adani Green Energy Ltd (AGEL), focuses on developing, building, owning, and operating utility-scale solar and wind projects, contributing significantly to India’s clean energy transition.
Transmission and Distribution Initiatives
The group plans to allocate $17 billion through Adani Energy Solutions Ltd (AESL) to expand transmission and distribution infrastructure. AESL, which operates across power transmission, distribution, smart metering, and cooling solutions, targets establishing 30,000 km of transmission lines by FY30, up from 19,200 km as of March 31, 2025, to support India’s rapidly growing energy demand.
Thermal Power Investments
Adani Power, India’s largest private thermal power producer, plans to invest $22 billion by FY32 to increase its generation capacity from 17.6 GW in FY25 to 41.9 GW. The company operates thermal power plants across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, Tamil Nadu, and also runs a 40 MW solar power project in Gujarat. Adani Power emphasizes that coal will remain critical for India’s baseload supply, ensuring stable power amid rising demand and renewable intermittency.
India’s Growing Electricity Market
India’s electricity sector is among the fastest-growing globally, with installed capacity expected to rise from 475 GW in FY25 to 1,000 GW by FY32, reflecting an 11% CAGR. Renewable energy, where India ranks 4th globally with 172 GW capacity, offers over $300 billion in investment opportunities, targeting 571 GW by FY32. Thermal power will reach 309 GW by FY32 from 247 GW in FY25, requiring an additional 80 GW of coal-based capacity ($91 billion opportunity). Transmission networks are projected to expand to 648,000 km by FY32, providing $110 billion in potential investment.
Strategic Outlook
With a diversified approach spanning thermal, renewable, and transmission segments, the Adani Group aims to capitalize on India’s rapidly expanding electricity demand while supporting the nation’s energy transition. By combining investments in renewables, coal-based generation, and transmission infrastructure, the group seeks to remain at the forefront of India’s power sector growth.
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