Adani Power September 2026: cash-backed expansion in India’s baseload cycle

The investor presentation states Adani Power has 18,330 MW of operating capacity.

The presentation shows a target capacity of 42,050 MW by FY32, with 23,720 MW described as locked-in capacity.

The presentation states 95%+ of operating capacity is tied up under power purchase agreements (PPAs).

In the investor presentation summary table, Q1 FY27 shows revenue of USD 2,040 million, EBITDA of USD 884 million, and profit after tax (PAT) of USD 514 million. In the statutory consolidated results (INR), Q1 FY27 reported total income of INR 19,322.30 crore and net profit of INR 4,866.60 crore.

On July 22, 2026, the board approved raising funds up to INR 15,000 crore via qualified institutional placement (QIP) or other permissible modes, subject to approvals. On August 14, 2026, shareholders approved this fund raise and also approved increasing borrowing limits to INR 100,000 crore (in excess of paid-up capital, free reserves and share premium).

The press release and financial notes state APL acquired the 180 MW Churk plant, acquired 24% equity stake in Jaiprakash Power Ventures Limited, and acquired 11.49% stake in Prayagraj Power Generation Company Limited under the Jaiprakash Associates resolution plan.