Adani Raigarh Thermal Power Plant
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Adani Raigarh Thermal Power Plant is an operating power station of at least 600-megawatts (MW) in Kirodimalnagar, Raigarh, Chhattisgarh, India with multiple units, some of which are not currently operating. It is also known as Avantha Power Korba West Power Project, Adani Korba West power station.
Location
Table 1: Project-level location details
| Plant name | Location | Coordinates (WGS 84) |
|---|---|---|
| Adani Raigarh Thermal Power Plant | Kirodimalnagar, Raigarh, Raigarh, Chhattisgarh, India | 21.743775, 83.274093 (exact) |
The map below shows the exact location of the power station.
Unit-level coordinates (WGS 84):
- Unit 1, Unit 2, Unit 3: 21.743775, 83.274093
Project Details
Table 2: Unit-level details
| Unit name | Status | Fuel(s) | Capacity (MW) | Technology | Start year |
|---|---|---|---|---|---|
| Unit 1 | operating | coal: bituminous | 600 | subcritical | 2014 |
| Unit 2 | pre-permit[1] | coal: bituminous | 800[1] | ultra-supercritical | – |
| Unit 3 | pre-permit[1] | coal: bituminous | 800[1] | ultra-supercritical | – |
Table 3: Unit-level ownership and operator details
| Unit name | Owner | Parent |
|---|---|---|
| Unit 1 | Raigarh Energy Generation Ltd [100%] | Adani Power Ltd [100.0%] |
| Unit 2 | Raigarh Energy Generation Ltd [100%] | Adani Power Ltd [100.0%] |
| Unit 3 | Raigarh Energy Generation Ltd [100%] | Adani Power Ltd [100.0%] |
Project-level coal details
- Coal source(s): domestic
Background
(*The Adani Raigarh Thermal Power Plant was formerly known as the Avantha Korba West power station and the Adani Korba West power station.)
On May 20, 2010, the Ministry of Environment and Forestry granted permission for a 600 MW project to Korba West Power Company Limited (KWPCL).[2] A phase II consisting of an additional 600 MW was considered for environmental clearance in 2013. KWPCL was related to Avantha Power & Infrastructure (additional ownership details below).[3][4]
(Per the August 2023 government meeting minutes linked below, the following permitting details apply to the 600 MW unit: Proposal J13012/57/2008-IA.II (T) dated 20.05.2010 and its subsequent amendments dated 16.04.2015, 26.11.2019, 30.07.2020; EC transferred dated 22.10.2019 (KWPCL to REGL) & 24.04.2023 (REGL to APL). "The CECB has granted Consent to Operate (CTO) with validity up to 31.03.2025.")
Synchronization of unit 1 occurred in October, 2013,[5][6] and the India Central Electricity Authority listed the plant as commissioned on March 31, 2014.[7]
In March 2018, the plant was added to a list of 34 stressed power plants in an Indian parliamentary panel report due to the size of its debt.[8]
Proposed expansion
On March 17, 2016, Korba West received terms of reference to add two units of 800 MW each to the power station (J13012/02/2016-IA.I (T)). The units would be supercritical and fueled by domestic coal.[9][10]
As of June 2020, the project had not received environmental clearance, and it appeared to be cancelled.
2023 Revival
In July 2023, Adani sought new Terms of Reference for a 1,600 MW ultra-supercritical expansion (2 x 800 MW) to the existing 600 MW unit (proposal IA/CG/THE/438173/2023). According to the Expert Appraisal Committee's (EAC) August 2023 meeting minutes, the development of the project was previously "not executed due to business strategy."[11]
In August 2023, the EAC recommended the grant of Terms of Reference.[11] According to the MoEFCC's website, Terms of Reference were formally granted in September 2023.[12] The proposed units were thus revived to the pre-permit status.
In April 2024, reporting indicated that construction company Bharat Heavy Electricals Ltd (BHEL) had received an order for the construction of the 1,600 MW expansion at the Raigarh power station.[13]
In August 2024, Adani Power submitted a proposal for the expansion project’s Environmental Clearance (EC). As of late September 2024, EC had not yet been granted.[14]
Environmental issues and opposition
In January 2024, Adani Watch reported numerous community accounts of environmental degradation and health issues caused by pollution related to the existing 600 MW coal-fired power plant. These included accounts of crop failure, mass aquatic fauna death, respiratory issues for children and adults, food contamination, job loss (due to agricultural failure), and endangerment of citizens commuting on public roads now shared with Adani trucks carrying coal and toxic fly ash.[15]
In July 2024, residents of Raigarh attended a public hearing to protest the proposed expansion, expressing concerns over increased pollution from toxic fly ash.[16]
Ownership
In November 2014, Adani Power was reportedly in talks to buy the 600 MW power station. More specifically, it executed a binding term sheet for acquisition of 100% of the shares of Korba West Power Co. Ltd. (KWPCL) from Avantha Power & Infrastructure.[17][18]
As of 2018, Adani had paid more than US$354 million in part-payment for the 600 MW coal-fired power plant. However, Adani reported the acquisition was in dispute due to equipment failures and disagreements with project financiers.[8]
By July 2019, the "Raigarh TPP" was acquired by Adani Power Limited (APL) from Korba West Power Company Limited (KWPCL). APL completed the acquisition of KWPCL under the Insolvency and Bankruptcy Code at an enterprise value of about Rs 10.04 billion. The project was linked with a 2.315 million tonnes per annum (mtpa) long-term fuel supply agreement (FSA) with Coal India Limited. KWPCL was renamed Raigarh Energy Generation Limited (REGL).[19]
Financing
Unit 1: IEEFA report from 2018 suggests that project finance debt had previously been secured by the company for the plant.[8] Insolvency documents of Korba West stated that the company's creditors were Axis Bank with exposure of Rs. 3105.35 crores, followed by Yes Bank with exposure of Rs. 240.50 crores, Srei Infrastructure Finance Limited and Aditya Birla Finance Limited with about Rs. 100.00 crores each.[20] Secured creditors received only 32% of the claimed amounts as part of the insolvency procedure and Adani's take-over.[21] The company's long-term debt has come down to Rs 1000 Crores and the repayment has commenced in financial year of 2022. [22]
Units 2 and 3: It is estimated that Adani will spend Rs 13,600 (USD 1.6 billion) on the expansion.[15] Exact financing structure is unknown.
Articles and Resources
References
- ↑ 1.0 1.1 1.2 1.3 (PDF) https://web.archive.org/web/20240125125527/https://parivesh.nic.in/utildoc/8844451_1693377089835.pdf. Archived from the original (PDF) on 25 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ Letter to Korba West Power Company Ltd., Subject: 1x600 MW Coal Based Thermal Power Plant at villages Bade Bhandar, Chote Bhandar, Sarvani & Amali Bhona, in Tehsil & Distt. Raigarh, in Chhattisgarh - Reg. Environmental Clearance, Ministry of Environment & Forests, May 20, 2010.
- ↑ "Agenda for 52nd meeting of EAC," India MoEF, Apr 22, 2013
- ↑ "Korba West Power Company Ltd: Overview," Avantha Power website, accessed March 2015
- ↑ "Avantha synchronizes 1st 600 MW unit in Raigarh, Chhattisgarh," Net Indian, Oct 9, 2013
- ↑ "Korba West Power Company Ltd: Recent Activities," Avantha Power & Infrastructure website, accessed November 2013
- ↑ Monthly Report on Broad Status of Thermal Power Projects in the Country, Central Electricity Authority, June 2014
- ↑ 8.0 8.1 8.2 "Adani Godda Power Project Too Expensive, Too Late, and Too Risky for Bangladesh," IEEFA, April 2018
- ↑ Terms of Reference, India MoEF, March 11, 2016
- ↑ "Pre-Feasibility Report: 2x800 MW Korba West Power Company Limited (Phase-II), Korba West Power Company Limited, date unknown
- ↑ 11.0 11.1 Minutes of 45TH MEETING Expert Appraisal Committee meeting Thermal Projects held from 16/08/2023 to 16/08/2023, Parivesh (MoEF), Aug. 30, 2023
- ↑ Proposal No.: IA/CG/THE/438173/2023, Parivesh, MoEFCC, Accessed: October 25, 2023
- ↑ Adani Power revives old ambitions as power demand surges in India, Rediff.com, April 10, 2024
- ↑ Proposal no: IA/CG/THE/494913/2024, Parivesh, MoEFCC, accessed October 1, 2024
- ↑ 15.0 15.1 Noise, pollution, trucks, coal dust and misery from Adani’s Raigarh coal-power plant to escalate, Adani Watch, January 23, 2024
- ↑ “Fearing toxic residues, locals fight an Adani coal-power project,” Adani Watch, August 8, 2024
- ↑ "Adani Power to buy Avantha Power's Korba West Power unit for $680M," VC Circle, Nov 24, 2014
- ↑ "Adani Power To Acquire Avantha Power Korba West Power Project In Chattisgarh". Adani. November 24, 2014.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Adani Power: Building a value-accretive thermal portfolio through M&A deals". PowerLine. June 8, 2020.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Casebook Issue 13: Resolution process of Korba West Power Company Limited" (PDF). www.ipaicmai.in. 2019.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Adani Power to get entire claim for Korba project". www.corporateprofessionals.com. Sep 2019.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Raigarh Energy Generation Ltd.- Rating Report" (PDF). www.brickworkratings.com. October 2022.
{{cite web}}: CS1 maint: url-status (link)
Additional data
To access additional data, including an interactive map of coal-fired power stations, a downloadable dataset, and summary data, please visit the Global Coal Plant Tracker on the Global Energy Monitor website.
