Project Report on

Company Law

ADANI POWER

Submitted By – Submitted To -
Saurabh Sharma Prof. Rajinder kaur
B.A LL.B (8th sem)
Roll no. 48/15
Section -A
 Acknowledgment

I would like to express my profound gratitude towards my honorable professor

Dr. Rajinder Kaur for providing me such a wonderful opportunity to work on this
project and also for guiding me in making of this project. Also I would like to
thank all my friends who helped me in making of this project.

Saurabh Sharma

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 Introduction
About Adani Group
Adani Group is a business behemoth based in India having a global footprint with interests in
Infrastructure, Power, Global Trading, Logistics, Energy, Port & SEZ, Mining, Oil & Gas, Agri
Business, FMCG products, Real Estate Development, Bunkering, et al. It is a name well
established among the distinguished corporate entities of India, with a young and highly
motivated taskforce of professionals who are a prized asset of the organisation. Founded in
1988 with a capital of INR 500,000, Adani Enterprises Ltd. (formerly known as Adani Exports
Ltd.) is today the flagship company of the Adani conglomerate which posted INR 260 billion
revenue in the previous financial year.
The Adani Group has many distinctions to its merit:
• Operator of the largest private port in India
• Developer of the largest multiproduct SEZ in India
• Owns the largest edible oil refining capacity in India
• One of the largest trading houses in India
• Largest Integrated Coal Management Firm in India
• Promoter of India’s first supercritical technology based power plant
• Operator of the world’s largest automated import Coal Terminal having 60 MnT capacity
The Adani Group is engaged in a continuous endeavour to maximise the realisation of potential
in its employees and market opportunities by synergising the multiple ventures of the Group;
thus creating an optimum business model that benefits both, the stakeholders and society.

Businesses:
Coal: Adani is the largest importer and supplier of coal in India, enjoys coal purchase rights in
Indonesia and owns coal mine in Australia. Adani supplies nearly 30 million tonnes of coal in
India; it expects to manage 200 million tonnes of coal by 2020.

Power: Adani is implementing 18,500 MW of power generation projects at seven locations in

India with the objective of raising this to 20,000 MW by 2020. It is also investing in cross
country power transmission lines to evacuate power from our generation facilities. The energy
business basket of Adani also includes the supply of Compressed Natural Gas to automobiles
and piped natural gas to household users. Adani also entered into oil and gas exploration and

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production with development and production sharing rights in assets in India, Thailand and
Egypt.

Infrastructure: Adani has been engaged in the creation of a port and special economic zone,
logistics management (shipping to container train movement), storage and movement (food
grain and orchard products) as well as realty development. Adani established India’s largest
private sector port and Special Economic Zone at Mundra (Gujarat) and is engaged in
developing ports/terminals at Dahej, Hazira, Mormugao and Visakhapatnam in India and
Abbot Point in Australia.

Agro-products: Adani is also engaged in the business of agro-products (wheat, pulses and
edible oil); its ‘Fortune’ brand is the largest edible oil brand in India today.

ADANI POWER
Adani Power Limited, formerly Adani Power Private Limited is the power
business subsidiary of Indian conglomerate adani group with head office
at Ahmedabad, Gujarat. The company is India's largest private power producer, with capacity
of 10,440 MWand also it is the largest solar power producer of India with a capacity of 688
MW. Adani Power was ranked as the 73th largest corporation in India in Fortune India 500 list
of 2018.
The company operates five supercritical boilers of 660 MW each (as per March 2012)
at Mundra, Gujarat & five 660 MW units(as per May 2015) at Tiroda, Maharashtra. It also
operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat. It is India's first
company to achieve the supercritical technology. The plant is the only thermal power plant in
India to be certified by UN under CDM.
The company is implementing 16,500 MW at different stages of construction. Its mission is to
achieve 20,000 MW by 2020. 100 MW of solar power station is also under advanced stage of
implementation at Surendranagar in Gujarat out of which 40 MW is already commissioned.
The company has gone to long term PPAs of about 7,200 MW of its 9,280 MW with
government of Gujarat, Maharashtra, Haryana and Rajasthan.

The Company was incorporated as Adani Power Limited on August 22, 1996 and received a
certificate of commencement of business on September 4, 1996. The Company became a

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private limited company on June 3, 2002 and the name of the Company was subsequently
changed to Adani Power Private Limited. The RoC issued a fresh certificate of incorporation
on June 3, 2002.The company is promoted by Gautam S. Adani, Rajesh S. Adani and Adani
Enterprises Limited.
The company was, thereafter, converted into a public limited company on April 12, 2007 and
the name of the company was changed to Adani Power Limited. Upon ceasing to be a private
limited company, the word private was deleted through a special resolution at the EGM of the
company held on March 28, 2007. The fresh certificate of incorporation consequent to the
change of name was granted by the RoC to the Company on April 12, 2007.
Adani Enterprises (AEL), one of the promoters of the company was incorporated under the
Companies Act on March 2, 1993 as Adani Exports Limited. Its name was subsequently
changed to Adani Enterprises Limited on August 10, 2006. AEL is engaged in the business of
trading in goods, import and export of goods, carrying out mining activities, and acquisition of
land, other property and real estate for developmental activities.
The company is a part of the Adani Group, a power project development company, which is
developing, and will operate and maintain, power projects in India. It has four thermal power
projects under various stages of development, with a combined installed capacity of 6,600 MW.
In addition, it is also planning to develop two power projects with a combined installed capacity
of 3,300 MW. The company intends to sell the power generated from these projects under a
combination of long–term power purchase agreements to industrial and state–owned
consumers and on merchant basis.
The company intends to capitalize on the emerging opportunities in the Indian power
generation sector, which are being driven by the current and expected demand and supply
imbalance in India. Notwithstanding various policy initiatives within India to diversify fuel
mix, with the limited reserve potentiality of petroleum and natural gas, eco–conservation,
restrictions on hydroelectric power projects, and the geopolitical perception.

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History
Adani Power was started as a power trading company in 1996. It started generation in July
2009 by implementation of its first 330 MW of 4,620 MW at Mundra. The Mundra super mega
project is the largest coal-based power project of India and fifth largest in the world. The
company commissioned another three 330 MW by November 2010 and country's first
supercritical unit of 660 MW on 22 December 2010, making its capacity 1,980 MW. 0n 6 June
2011 it synchronised its second unit of 660 MW bringing the total generating capacity to 2,640
MW and on 2 October 2011, it synchronised its third super critical unit with national grid. With
this, Adani Power has become largest thermal power generating company in the private sector,
and the Mundra plant has become India's largest power plant with capacity of 3,300 MW.
In February 2012, it commissioned the last unit of Mundra Project to take its capacity to 4,620
MW which makes the Mundra TPP to be the largest privately held thermal power plant in the
world and fifth largest on an overall basis, as of March 2012.This plant became the largest
thermal power plant in Asia after its completion.
On April 3, 2014, Adani Power Ltd. announced the commissioning of the fourth unit of 660
MW at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power
producer in India, with an overall installed capacity of 9,280 MW. The fifth unit was
commissioned later in 2014.
Adani Power Ltd. announced the completion of acquisition of Udupi Power Corporation
Limited on May 11, 2015. With this, Adani Power has a total commissioned capacity of 10,440
MW, making the company the largest private power producer in India.

Businesses
Operational Power Plants
Adani is the largest private thermal power producer in India with an installed capacity of 10,480
MW. Adani four power projects are spread out across the states of Gujarat, Maharashtra,
Rajasthan and Karnataka. Adani are well on our way to beat our target of having an installed
base of 20,000 MW by 2020 and maintaining our lead as the number one private player in the
industry.

Mundra, Gujarat
4620 MW (5 X 660 MW + 4 X 330 MW)

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Adani Power created history by synchronising the first super-critical technology based 660MW
generating unit at Mundra. This is the first super-critical generating unit in India. The Mundra
power project is also the fastest project implementation ever by any power developer in the
country with a record completion of inception to synchronisation within 36 months.

Tiroda, Maharashtra
3300 MW (5 X 660 MW)
With its total capacity of 3300 MW, Tiroda comprises of 5x660 MW units. All units at this
location are of Supercritical Technology, driving efficiency in coal based power generation.
Tiroda uses latest technology for environmental management and has been registered under
CDM by UNFCCC.
Adani Power Maharashtra Limited is the largest coal based Thermal Power Plant in the state
of Maharashtra, India. The plant has a capacity to generate 3300 MW power through its 5 units
of 660 MW capacity. The first unit of the plant was commissioned on 28th August 2012 and
subsequently other units were commissioned. The plant achieved full capacity with the
commissioning of Unit V on 11th October 2014.

Kawai, Rajasthan
1320 MW (2 X 660 MW)
Adani Power Rajasthan Limited (APRL) is the largest power producer plant in Rajasthan at a
single location with a generation capacity of 1320 MW (2X660 MW). It is coal-based thermal
power plant on supercritical technology.
For immediate connectivity, Kawai has a 1500m long air strip and is using state of the art
technology for environment management.

Udupi, Karnataka
1200 MW
Udupi Power Corporation Limited is a 2 X 600 MW imported coal based power project in the
Udupi District of Karnataka. Situated in the western coastal region of India, the plant is situated
in the village of Yellur, between Mangalore and Udupi. UPCL is the first independent power
project (IPP) using 100% imported coal as fuel in the country and was awarded the Gold Shield
award for early completion of Thermal power project Unit-1 from Ministry of power,
Government of India in FY 2010-11 and also the prestigious Golden Peacock Environment

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Management Award in FY 2014-15. The Udupi Power Project supplies 90% of the power it
generates to the State of Karnataka and 10% to the State of Punjab.

Kamuthi Solar Power Project

It is a photovoltaic power station spread over an area of 2,500 acres (10 km2)
in Kamuthi, Ramanathapuram district, 90 km from Madurai, in the state of Tamil Nadu, India.
The project was commissioned by Adani Power. With a generating capacity of 648 MWp at a
single location, it is the world's sixth largest (as of 2018) solar park.
ABB commissioned five sub-stations to connect the solar park with the National Grid on 13
June 2016. The Kamuthi Solar Power Project was completed on 21 September 2016 with an
investment of around ₹4,550 crore(equivalent to ₹49 billion or US$680 million in 2018). The
solar plant consists of 2.5 million solar modules, 380,000 foundations, 27,000 metres of
structures, 576 inverters, 154 transformers, and almost 6,000 km of cables. Construction of the
structures needed to mount the solar panels required 30,000 tonnes of galvanised steel Around
8,500 workers installed an average of 11 MW of capacity per day to complete the project within
8 months.
The entire solar park is connected to a 400 kV substation of the Tamil Nadu Transmission
Corp. The solar panels are cleaned daily by a self-charged robotic system.
Given the solar resource of around 2100 kWh/(m2*yr) an annual generation of 1.35 TWh/yr
may be possible. This corresponds to a capacity factor (or average power) of 24% of the peak
capacity 648 MWp. Assuming a technical life time of 25 years the investment cost is
700 MUSD/(25*1.35 TWh) = 2 US cent/kWh.

SWOT Analysis
This analysis will help us in developing an overview of a company’s strategic situation as it
forms a basis for matching the company’s strategy to its situation.
Strengths
• Strong execution track record.
• Diversified nature of the Adani Group
• Good Operational Experience.
• Presence of international coal mines and own ports.

Opportunities

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• Emergence of major UMPP projects in India.
• Given its presence in coal mining and India’s rising coal imports, domestic coal mining offers
a huge opportunity for Adani Enterprises.
• The huge amount of unelectrified areas in India.
• Huge capacity addition in 12th plan by Indian government.

Weakness
• Use of Chinese equipments.
• Conflict of interest given that other promoter owned companies are also in power generation.
• Limited bargaining power vis a vis delays in coal supplies from Adani Enterprises as it is
Adani Power’s holding company.

Threats
• Shortage of Coal in India.
• Presence of major players supplying power at a cheaper rate than Adani.
• Low market share.
• New tariff structure adopted by coal nations like Indonesia and Australia.

Board Of Directors

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 Subsidiaries of the Company

The company has five subsidiaries:

Adani Power Maharashtra Limited
Adani Power Maharashtra Limited was incorporated as Adani Power Maharashtra Private
Limited on April 11, 2007 under the Companies Act in Ahmedabad. Adani Power Maharashtra
Private Limited became a public company on May 16, 2008 and the name was subsequently
changed to APML. APML is engaged in the business of generation, accumulation, distribution
and supply of and to generally deal in electricity. The Tiroda Power Project is being executed
by APML.

Adani Power Rajasthan Limited

Adani Power Rajasthan Limited was incorporated as Adani Power Rajasthan Private Limited
on January 25, 2008 under the Companies Act in Ahmedabad. Adani Power Rajasthan Private
Limited became a public company on April 29, 2008 and the name was subsequently changed
to APRL. The company is engaged in the business of generation, accumulation, distribution
and supply of and to generally deal in electricity.

Adani Power Dahej Limited

Adani Power Dahej Limited was incorporated as Dahej Power Private Limited under the
Companies Act on February 6, 2006. APDL became the subsidiary on December 15, 2007. Its
name was subsequently changed to Adani Power Dahej Limited on May 16, 2008. APDL is
engaged in the generation, accumulation, distribution and supply of electricity.

Mundra Power SEZ Limited

Mundra Power SEZ Limited was incorporated under the Companies Act on October 27, 2008
in Ahmedabad. The business of the company is to develop a Special Economic Zone for
establishment of electric and power distribution, industrial and commercial undertaking by
constructing roads, buildings, structures, arranging water supply, electricity supply and other
energy sources, developing sewage systems, effluent treatment systems, social infrastructure
and provide all other amenities and facilities as may be necessary for establishment of special
economic zone subject to approval, if required.

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Adani Power (Overseas) Limited
Adani Power (Overseas) Limited was incorporated in accordance with the Offshore companies
regulations of Jebel Ali Free Zone, 2003 with a limited liability on October 13, 2008. The
principal activities for which the offshore company is established is general trading,
investment, investments in properties worldwide, property development and investment in
properties in Dubai World, Nakeel, Emaar, Dubai Holdings or any other approved projects by
Jebel Ali Free Zone and investment in development or acquisition of assets in regards to power
generation, mining shipping etc.and to support various activities of the parent company and its
other subsidiaries that are engaged in business of generation and distribution of power.

Shareholding
Sharing holding pattern of adani power limited is as follow -

There are total 13 promoters of the company. The promoter having highest share of holding
in the company is GAUTAMBHAI SHANTILAL ADANI & RAJESHBHAI SHANTILAL ADANI
(ON BEHALF OF S. B. ADANI FAMILY TRUST) which have 56.56 percentage of total share of
the company. The next biggest promoter is Adani Tradeline LLP which has 20.85 percent of
total shares.

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 Bibliography

- www.adanipower.com

- Wikipedia.org

- www.ndtvbusiness.com

- www.moneycontrol.com

- www.scribd.com

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