Adani Power Ltd. , the generation unit of India’s biggest coal importer, fell by a record in Mumbai trading after Gujarat state’s electricity regulator ruled that the company must honor a supply agreement.
Adani Power Ltd. , the generation arm of India’s biggest coal importer, said it plans to spend about 825 billion rupees ($17.5 billion) to increase capacity almost 17-fold to 16,500 megawatts in the next four years.
Adani Power Ltd., controlled by Indian billionaire Gautam Adani, surged in Mumbai trading after the national electricity regulator decided to compensate the utility following an unexpected increase in coal costs.
Indian billionaire Gautam Adani’s wealth has tripled since Narendra Modi became the top opposition party’s prime minister pick eight months ago, fueling campaign attacks over the Gujarat chief minister’s plans to bolster Asia’s third-biggest economy.
Lanco Infratech Ltd. , an Indian energy and infrastructure company, plans to borrow from Chinese banks, joining rivals in seeking cheaper funds for equipment contracts for plants in the South Asian nation.