Adani Power has unveiled plans to invest a total of Rs30.0bn ($564.12m) over the next two years to increase it solar project portfolio capacity in India.
The investment will allow the addition of 160MW of solar power to its existing capacity costing Rs180m ($3.38m) per MW.
Adani will commission its first 40MW solar power plant in the Indian state of Gujarat, which will be later expanded to 100MW.
The power generated by the plant will be transferred through a transmission line. The company is also planning to set up another 100MW plant near Jaisalmer, Rajasthan, which could be commissioned by 2013-14.
Adani’s entire capacity under execution and construction is coal based; it operates 3,300MW and uses coal imported from Indonesia.
In March this year, the firm will commission two more 60MW units at Mundra to reach the full capacity of 4,620 MW. This will make it the largest thermal power plant in a single location.
The company has also commissioned 1,320MW at Tiroda, enhancing the operational capacity to 6,000MW.
Furthermore, the company said it has been shortlisted to develop four projects in Kosovo, South Africa and Nigeria, having a total capacity of 3,792MW; the projects are worth Rs190bn ($3.57bn). It has also been shortlisted to purchase and expand two gas-based power plants in Nigeria.
In addition, the company is expected to submit final bids next month for the 972MW Ughelli Power and the 1,020MW Sapele Power projects.
Adani Power is expected to reach total capacities of 20,000MW by 2020, reports Business Standard.