The Adani Group, led by industrialist Gautam Adani, has announced plans to invest approximately $60 billion across India’s power sector by FY32, with a significant focus on renewable energy, generation, and transmission & distribution infrastructure. In a recent investor presentation, Adani Power revealed that the group intends to invest $21 billion by FY30 to boost its renewable energy capacity from 14.2 GW in FY25 to 50 GW.
Adani Green Energy Ltd (AGEL), a key subsidiary, is spearheading this transformation. AGEL is engaged in the development, operation, and maintenance of large-scale solar and wind power projects across India. Through Adani Energy Solutions Ltd (AESL), the group plans to invest $17 billion by FY30 in expanding transmission and distribution capabilities. AESL operates across multiple segments including smart metering, cooling solutions, and power infrastructure.
The company aims to increase its transmission network from 19,200 km (as of March 2025) to 30,000 km by FY30, addressing India’s surging energy demand. Adani Power, India’s largest private thermal power producer, will drive a $22 billion investment by FY32 to grow its generation capacity from 17.6 GW in FY25 to 41.9 GW.
The company has thermal power assets spread across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, along with a 40 MW solar plant in Gujarat. Adani Power emphasized that coal-based power will continue playing a vital role in ensuring stable, large-scale electricity supply to meet peak demand and offset fluctuations from renewable sources.
India is positioned as one of the fastest-growing electricity markets globally. The country’s total installed power capacity is projected to grow at a CAGR of 11%, reaching 1,000 GW by FY32, up from 475 GW in FY25.
India’s power sector presents significant investment opportunities across multiple segments. In renewable energy, the country’s installed capacity of 172 GW—currently ranked 4th globally—is projected to grow to 571 GW by FY32. This rapid expansion offers an investment potential of over $300 billion, driven by ambitious clean energy targets and policy support.
At the same time, thermal power and transmission networks remain critical for balancing demand and ensuring reliability. Thermal capacity is expected to rise from 247 GW in FY25 to 309 GW by FY32, requiring an additional 80 GW of coal-based power and an estimated $91 billion in investments.
Parallelly, the power transmission network is targeted to expand from 494,000 km to 648,000 km over the same period, unlocking another $110 billion in investment opportunities to strengthen grid infrastructure. India’s power grid is among the largest synchronised networks globally, offering long-term prospects for infrastructure and energy investors.
