Injecting a major booster to the power sector, Gautam Adani, has recently announced an investment plan worth $2 billion to build a 2,500mw power plant in Odisha and the move is expected to push the group's power generating capacity by a quarter and boost power supply in the country. Adani, an entrepreneur of global repute engaged in power, mining and ports business, has recently purchased the $327 million power plant from Lanco Infratech. It may be recalled that the group is currently the largest private power producer in India and is all set to ink a pact with the Odisha government in the next couple of months to set up a new plant, said official sources, adding that the player plans to generate 1,000 megawatt (MW) of electricity by 2017 in Odisha and subsequently ramping it up to full capacity by 2019.
They added that the plant will source coal from two blocks it is developing in Odisha with a total capacity of 70 million tons per annum and the company is expected to start coal mining in the next two years as the power plant would require 25 million tons of coal per year at full capacity. The group controlled flagship Adani Enterprises currently commands 9,240mw of power capacity at its plants in Gujarat, Maharashtra and Rajasthan. It imports about 100 million tons of coal a year mainly from Indonesia to feed the plants and its inbound shipments of coal could double by 2020.