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Adani, Torrent Power bag $3.7 billion coal-based deals in India

SUMMARY

Adani Group and Torrent Power have secured contracts worth $3.7 billion from Madhya Pradesh to build coal-fired power plants.

Torrent Power will construct a 1,600 megawatt ultra-supercritical plant, while Adani Power will build an 800MW facility. Both will supply power at tariffs just above 5.8 rupees per kilowatt hour. This move highlights India’s increasing reliance on coal despite Prime Minister Modi's push for clean energy investments.

The country aims to install 500 gigawatts of renewable energy by the end of the decade. However, it is also planning a 63% increase in coal-based power capacity by 2032.


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