Adani Power Ltd. (APL), part of the Adani portfolio, has announced its performance for the first quarter ending June 30, 2024.
APL CEO S.B. Khyalia highlighted the company’s proactive approach to growth and sustainability. “As Adani Power advances, we are preparing for a resurgence in the thermal power sector by undertaking development activities for three ultra-supercritical projects of 1,600 MW each. Our strategy includes leveraging high-efficiency, low-emission technologies, enhancing our project development expertise, and improving organizational agility to remain competitive in a digitalized world. We are committed to enhancing lives and securing India’s energy future while being environmentally responsible,” Khyalia stated.
The power sector in South Asia continues to show robust growth, with aggregate power demand increasing by 10.6% year-on-year and peak demand rising by 12% to a record 250 GW. This favorable environment has led to higher power offtake from APL’s plants, including Mundra, Mahan, and the recently commissioned second 800 MW unit at Godda.
APL’s domestic power sales volumes have been bolstered by rising demand and lower prices of imported coal. The company has also released its first Integrated Annual Report in line with Integrated Reporting standards and its third Business Responsibility Sustainability Report (BRSR).
In terms of ESG performance, APL has maintained its ‘B’ score from the Carbon Disclosure Project (CDP) for its climate change and water security commitments. The company achieved a score of 48/100 in the Corporate Sustainability Assessment (CSA) by S&P Global, surpassing the average score for World Electric Utilities. Additionally, APL scored 88% in the CSR HUB ESG Rating, outperforming the global industry average.