Adani, India's largest private power producer, aims to boost its installed capacity from its current 8,620 MW by acquiring about 5,000 MW in power capacity. The group is in advanced phase of negotiation with Indiabulls Power to acquire the 1,350 MW Amravati thermal power project; two 270 MW units have already been completed and has received all required approvals from statutory authorities. Adani had offered Rs 11,000 crore (US$1.82bn) for the three hydropower plants sold recently by Jaiprakash Power Ventures to Reliance, who offered Rs 12,300 crore (US$1.86bn) for the plants.
Adani has set a target of 20 GW of generation capacity by 2020, mainly through acquisitions. The group has 7,260 MW of projects under various stages of development and will seek to acquire 4,120 MW of new power generation assets (both conventional thermal and renewable) with a potential return on equity of 11-12%.
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