Adani Power Debuts In Middle East, Sets Up Subsidiary At Abu Dhabi

Adani Power Limited has established a new wholly-owned subsidiary, Adani Power Middle East Ltd., in Abu Dhabi, United Arab Emirates, following its expansion into Singapore.

The company informed the exchange that Adani Power Middle East Ltd. will focus on investments in power, infrastructure, and related industries. The subsidiary has an authorized share capital of $27,000, with each share priced at $1. Adani Power Limited owns all the shares of the new subsidiary.

Adani Power Limited (APL), a major Indian private thermal power producer with a power-generating capacity of 15,250 MW, operates thermal power plants across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, as well as a 40-megawatt solar power facility in Gujarat.

APL is expanding its footprint in the thermal power sector, both in India and internationally, through initiatives aimed at enhancing its infrastructure and technological base. APL is also notable for being the world’s first entity to develop a coal-based Supercritical thermal power facility registered under the Kyoto Protocol’s Clean Development Mechanism (CDM).

However, the company reported a 55.33% decline in consolidated net profit to Rs 3,912.79 crore in Q1 FY25, compared to Rs 8,759.42 crore in Q1 FY24. Despite this, revenue from operations increased by 35.89% YoY to Rs 14,955.63 crore in the quarter ended June 30, 2024.

Adani Green Incorporates Subsidiary in Singapore

Adani Power Limited has also incorporated a wholly-owned subsidiary, Adani Power Global PTE., in Singapore on June 14, 2024, with an authorized capital of 1,000 Singapore dollars. This subsidiary will invest in power, infrastructure, and related fields. The initial subscription to the share capital of 1000 Singapore Dollars was divided into 1000 shares with a nominal value of Singapore dollars 1 each.