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Adani Power Ltd. Company History and Annual Growth Details

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 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 was, thereafter, converted into a public limited company on April 12, 2007 and the name of the Company was changed to Adani Power Limited. Further, 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 change of our name was granted by the RoC to our Company on April 12, 2007.

The Company was originally incorporated by Mr. Gautam S. Adani and Mr. Rajesh S. Adani, together with their relatives. In 2004, pursuant to internal restructuring amongst the Promoters, the entire shareholding of the Company was transferred to Mundra Port and Special Economic Zone Limited ("MPSEZL"). Subsequently, on May 29, 2006, MPSEZL transferred its entire shareholding in the Company to Adani Enterprises Limited.

Key Milestones

The table below sets forth some of the key events and milestones in the history of our Company:

Date Details

August 22, 1996 Incorporation of the Company

September 20, 2006 Execution of Loan agreement (financial closure) with Lenders
of Mundra Phase I Power Project

December 8, 2006 Coal supply agreement with AEL for Mundra Phase I Power Project,
which was extended to Mundra Phase II Power Project through
amendment agreement dated August 10, 2007

February 2, 2007 Execution of PPA with GUVNL for 1,000 MW

February 6, 2007 Execution of PPA with GUVNL for 1,000 MW

June 27, 2007 Execution of subordinate loan agreement for Mundra Phase I and II
Power Project

July 25, 2007 Execution of Loan agreement (financial closure) with Lenders of Mundra
Phase II Power Project

September 28, 2007 Execution of Investment Agreement with 3i Power Investment A1 Limited

November 6, 2007 Allocation of Lohara West and Lohara Extension (E) Coal mining blocks
for Tiroda Power Project

January 15, 2008 Execution of Shareholder Agreement with Millennium Developers Private
Limited for investment in Tiroda Project

February 1, 2008 Agreement to Lease for 204.28 ha signed with Maharashtra Industrial
Development Corporation for Tiroda Project

March 24, 2008 PPA with AEL for 221 MW

March 24, 2008 Coal supply agreement with AEL for Mundra Phase III Power Project

March 27, 2008 Execution of loan agreement (financial closure) for Mundra Phase III Power
Project

March 27, 2008 Execution of subordinate loan agreement for Mundra Phase III Power Project

March 28, 2008 Execution of foreign currency loan agreement for Mundra Phase III Power
Project

April 15, 2008 Coal supply agreement with AEL for Mundra Phase IV Power Project, which
was amended on April 13, 2009

August 7, 2008 PPA with UHBVNL for 712 MW

August 7, 2008 PPA with DHBVNL for 712 MW

September 8, 2008 PPA with MSEDCL for 1,320 MW

November 24, 2008 Investment Agreement with Ventura Power

January 8, 2009 Co-developer agreement with MPSEZL

January 30, 2009 Execution of loan agreement (financial closure) for Tiroda Power
Project - Phase I

March 25, 2009 Boiler light-up of unit I of Mundra Power Project - Phase I

March 27, 2009 Share subscription agreement with Somerset Fund

May 23, 2009 Synchronization of unit I on Mundra Phase I Power Project

June 24, 2009 Execution of loan agreement (financial closure) for Mundra Phase IV
Power Project

June 24, 2009 Execution of subordinate loan agreement for Mundra Phase IV Power Project.

2010

-First project in the world to be certified as Clean Development Mechanism (CDM) Project by United Nations Framework Convention on Climate Change {UNFCCC}

-Adani Power Limited was awarded KPMG INFRASTRUTURE TODAY AWARD 2010 for successfully generating over 1000MW power as per the committed

2011

-"Adani Power conferred with National Energy Conversation Award 2011".

2012

-"Adani's Mundra plant to earn Rs. 600 cr in carbon credits The world’s first coal fired plant to receive carbon credits"

-Scheme of Amalgamation of Growmore Trade & Investment Pvt. Ltd., Mauritius with Adani Power Limited has been sanctioned by the Hon'ble High Court of Gujara

2013
-Adani Power commissions third 660 MW unit of its Toroda thermal power plant
-Adani Power demerges transmission line business.
-Adani begins integrated coal MDO operations in India

2014
-Adani Power emerges as Indias largest private power producer.
-Adani Power to acquire Avantha Power's Korba West Power Project in Chattisgarh Installed capacity to rise to 11,040 MW.
-Adani Power to acquire Avantha&Korba plant.
-Adani to invest $2 bn in Odisha power plant
-CCI clears Adani Powerdeal to buy Udupi thermal plant
-Adani Power introduces vermicomposting technology in Tirora

2015
-Adani Power signs a definitive Share Purchase Agreement for acquisition of Avantha Power's Korba West Power Plant in Chattisgarh
-Adani Power completes acquisition of Udupi Power plant

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