Adani Power, a prominent division of the Indian conglomerate Adani Group, has taken a significant step in expanding its global footprint by establishing a wholly-owned subsidiary named Adani Power Middle East in Abu Dhabi. This move is part of the company’s broader strategy to enhance its presence in the Middle East, a region known for its dynamic energy sector and substantial infrastructure investments.
In an official statement filed with Indian stock exchanges, Adani Power highlighted that the primary objective of this new subsidiary is to invest in power generation, infrastructure, and related sectors within the region. The formation of Adani Power Middle East reflects the company’s ongoing efforts to diversify its operations and tap into emerging markets that offer robust growth opportunities.
Adani Power Middle East set its authorised capital at $27,000, dividing it into 27,000 shares valued at $1 each. This financial structure underscores the company’s commitment to establishing a solid foundation for its new venture.
According to the stock exchange filing, Adani Power retains complete ownership of these shares, ensuring full control over the newly incorporated entity.
Adani Power Limited (APL), the parent company, is recognized as India’s largest private thermal power producer. It is boasting an impressive generation capacity of 15,250 MW. APL operates a wide network of thermal power plants across several Indian states, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand. The company also manages a 40 MW solar power project in Gujarat, reflecting its commitment to sustainable energy solutions.
Moreover, Adani Power has achieved a significant milestone on the global stage by becoming the world’s first company to establish a coal-based Supercritical thermal power project registered under the Clean Development Mechanism (CDM) of the Kyoto Protocol. This achievement underscores the company’s dedication to innovation and environmental responsibility, positioning it as a leader in the global power industry.
By establishing Adani Power Middle East, the company aims to leverage its expertise in power generation and infrastructure development to contribute to the growth of the Middle East’s energy sector.
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