Billionaire Gautam Adani plans to invest $2 billion to build a 2,500 megawatt power plant in Odisha, which would raise group capacity by a quarter and boost supply in a country where a third of the population still goes without power.
Adani has built a power, mining and ports giant with revenue of nearly $9 billion. Among his latest purchases in an expansion spree was the $327 million acquisition of a power plant from Lanco Infratech earlier this month.
The Group, the largest private power producer in India, expects to sign a pact with the Odisha government in four months to set up a new plant, said Rajesh Jha, who looks after the group's mining business in the state.
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