Adani Group announces Rs 63,000 crore investment for major energy projects in Assam

GUWAHATI: The Adani Group has announced that it will invest 63,000 crore in Assam for two major energy projects, marking the largest private sector investment in the Northeast. Two portfolio companies of the group have allegedly received Letters of Award from the Assam government for what the company described as two transformative projects, a state-of-the-art thermal power plant and a pioneering pumped storage facility. Adani Power Ltd, Indias largest private-sector power generator, will invest Rs 48,000 crore to set up a 3,200 MW greenfield ultra-supercritical power plant in Assam. Separately, Adani Green Energy, Indias largest renewable energy company, intends to invest Rs 15,000 crore to set up two pumped storage plants (PSP) in the state with a combined capacity of 2,700 MW. These landmark initiatives underscore the Adani Groups strategic focus on the advancement of Indias northeastern region, aligning with Chairman Gautam Adanis pledge in February this year to invest 50,000 crore in the regions development and growth, the Adani Group said in a statement. Adani said, The Northeast is emerging as a vital frontier in Indias growth story and we are proud to contribute to its transformation. Our 3,200 MW thermal power project and 2,700 MW PSP projects in Assam collectively represent not only the largest private sector investment in the region but also firm steps towards energy security, industrial development and job creation. According to him, these projects will not only energise Assam but also catalyse progress across the entire northeastern corridor. We are honoured to contribute to Assam and the entire Northeasts progress and look forward to building partnerships that uplift local communities and drive Indias energy transformation, he further stated. Adani Power is implementing Indias largest private sector capex programme to secure the nations growing baseload demand. It has a current operating capacity of 18.15 GW from 12 thermal power plants and one solar plant, and is aiming to achieve an overall generation capacity of 42 GW by 203132, the statement said.