IPP
, India

Adani Power suffers profit loss of US$48m in 4Q16

Five years of "enormous losses" for Adani.

Insitute for Energy Economics and Financial Analysis (IEEFA) reported that Adani Power Ltd reports another net loss of US$48 million in the three months through December.

This puts the company as the proposed cornerstone customer in a plan to build the massive Adani Enterprises Carmichael coal project in Queensland on track for its fifth year of enormous losses since FY2012.

Here's more from IEEFA:

The latest numbers highlight the strategic weakness of new import coal-fired power generation in the Indian market, where declining real wholesale electricity tariffs are increasingly the norm and import coal is losing market share to lower-cost domestic coal and ever more cost-competitive renewable energy sources.

These trends are gaining momentum at the same time growth in electricity demand is falling below expectations due to rapid energy and grid efficiency gains.

With shares of Adani Power down 60 percent over the past five years, the recent losses highlight how—with US$7.3 billion in net debt and a string of losses on existing imported coal-fired power generation—Adani Power is neither a credible nor bankable offtake counterparty for the Carmichael coal proposal.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!