Adani Power (ADANIPOWER) investor relations material

Macroeconomic and sector outlook

• India is experiencing robust GDP growth, with a 7.7% estimate for FY26 and a large, expanding consumer base, driving demand for infrastructure and energy investments.

• Electricity consumption per capita is set to rise, with India targeting a $35 trillion GDP by 2047 and significant infrastructure upgrades.

• The electricity sector is a multi-decade investment opportunity, with installed capacity projected to reach ~1,000 GW by FY32, driven by renewables, EVs, data centers, and industrialization.

Business model and portfolio

• The portfolio spans energy, utilities, transport, logistics, and primary industry, with market-leading positions in renewables, baseload power, and utility infrastructure.

• The power business is India's largest private baseload power producer, with 18.3 GW operating capacity and a locked-in pipeline targeting 42 GW.

Growth strategy and execution

• Coal remains critical for India's baseload needs, with 97 GW additional coal-based capacity required by FY35; 23.7 GW of new projects are in the pipeline.

• Growth is secured through a mix of organic and inorganic expansion, with proven capabilities in asset acquisition, integration, and turnaround.

• Project execution is de-risked via brownfield development, full land and equipment lock-in, and advanced supply chain management.