Wednesday, June 7, 2023
HomeVideoBloomberg: Adani's Power Plant With $1 Billion Debt That Won't Go Down

Bloomberg: Adani’s Power Plant With $1 Billion Debt That Won’t Go Down


Billionaire Gautam Adani’s Mundra power plant is a coal-fired colossus that has burned through money for years, running up $1.8 billion in losses. Adani has deployed more than $1 billion of creative debt-financing, but auditors say they can’t make sense of the math. Menaka Doshi reports on Bloomberg Television. Read the full story here: https://www.bloomberg.com/news/articles/2023-03-05/adani-stuffs-power-plant-with-1-billion-debt-that-won-t-go-down

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Transcript

Began his journey to building India’s largest private sector thermal power generation company few Ed by adani mind coal in Indonesia the plant ran short after a change in Indonesia’s export pricing policy Indian state-owned buyers refused to pay more for the power adani power is a separate entity to the coal mining

Owning company that’s adani Enterprises so as a separate listed company adani power would rather turn off than honor a contract decade-long legal dispute has meant many plant shutdowns and a completely eroded net worth adani’s own auditor has repeatedly pointed out that the plant is run up major losses since it opened over

A decade ago despite repeated audit qualifications adani power puts the plant’s worth at over 90 billion rupees or 1 billion dollars long-running accounting dispute is among the concerns short seller Hindenburg research raised on the funding and valuation of adani group companies Bloomberg News

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