Adani Power mulls overseas acquisitions

Adani Power mulls overseas acquisitions

New Delhi: Power utility Adani Power is looking at several opportunities abroad for acquisition of coal mines and power plants, chief executive Ravi Sharma said on Sunday.

Speaking on the sidelines of the World Economic Forum’s India summit in New Delhi, Sharma declined further detail but said Adani Power would raise its power generation capacity in India to 2,000 megawatts by December, from 990 megawatts now.

He added that the company hoped to have 16,000 megawatts of power generation capacity by 2014.

The power sector is growing rapidly in India, which aims to halve its peak-hour power deficit of nearly 14% within two years.