Adani Group to build two energy projects in Assam at $7 billion

Adani Group has announced an investment of 630 billion rupees, roughly USD 7.17 billion, to develop two major energy projects in the Indian state of Assam. The projects include the largest private coal-fired power plant in Northeast India and a pumped-storage hydropower facility. Once completed, the initiatives are expected to create at least 3,500 permanent jobs and significantly improve power supply in the region.

According to a statement issued on Friday, the group’s power-generation arm, Adani Power, will build a 3.2-gigawatt thermal power plant at a cost of around 480 billion rupees. The plant is scheduled to begin operations in phases from December 2030.

Reuters reported that Adani Power had been selected last month as the lowest bidder in Assam’s tender for supplying 3.2 gigawatts of power.

Private-sector investment in new coal-fired plants in India has been stagnant for the past decade. Adani’s latest initiative is viewed as a sign of revival. In August, the company also announced USD 5 billion investment in two additional coal-based projects. The company aims to expand its power generation capacity from 18 gigawatts to 42 gigawatts by the 2032 financial year.

Meanwhile, renewable energy subsidiary Adani Green Energy will invest about 150 billion rupees in two pumped-storage projects in Assam. The combined capacity will be 2,700 megawatts, and the company has already secured the tender for 500 megawatts. Currently, Adani Green’s renewable energy capacity stands at 16.7 gigawatts, with a target of reaching 50 gigawatts by 2030.

Earlier this year, Group Chairman Gautam Adani committed to investing 500 billion rupees across Northeast India. According to the Adani Group, the two large-scale energy projects in Assam are part of that pledge. The group also plans to invest 1 trillion rupees across various sectors in Andhra Pradesh over the next decade.