Adani Power to co-fire green ammonia at its Mundra Plant
Adani Power Ltd India’s largest private sector power generator, will co-fire up to 20% green ammonia in the boiler of a conventional coal fired 330MW Unit at its Mundra power plant in Gujarat
Green ammonia, produced from green hydrogen, which in turn is produced through electrolysis using renewable energy, would be a feedstock for the boilers.Adani Total Gas soared 20% – the highest tradable limit of the day. Adani Energy Solutions surged nearly 19%. Adani Power, Adani Green Energy, and NDTV jumped over 12% each.
Analysts, however, remain cautious on most of the group’s stocks even after the court’s observation.”Market participants found solace after the apex court indicated that allegations in the report cannot be treated as ‘credible’ and raised hopes that the decision may come in favour of the Group going forward,” said Manish Chowdhury, head of research at StoxBox. “Though some stocks in Adani Group
still look expensive from a valuation perspective, we remain positive on Adani Ports from a long-term perspective considering the economic-centric nature of the business, high entry barriers, and long-duration concessions to the business.”