Adani Power emerges as India’s largest private thermal power producer, set to triple earnings by 2033: Morgan Stanley

AdPower Limited (APL) has firmly established itself as India’s largest private coal-based independent power producer (IPP), with a portfolio of 18,150 MW spread across 12 plants in eight states, according to a research report by Morgan Stanley.

APL has successfully acquired and turned around 4,370 MW of stressed assets, with integration of another 2,900 MW underway. The private power producer has consistently maintained plant availability above 90 per cent, backed by digital operations and in-house coal sourcing and logistics expertise.