Adani Power spurts on signing MoU with IHI Corporation and Kowa Company

Adani Power advanced 2.11% to Rs. 132.90 after the company signed a Memorandum of Understanding (MoU) with IHI Corporation and Kowa Company (Kowa) for environmentally sustainable generation.

The parties aim to study the feasibility on a modification to achieve 20% liquid ammonia co-firing ratio and extend this to a ratio up to 100% mono-firing at the Adani Power Mundra Coal Fired Power Plant. Co-firing is the combustion of two different fuels aimed at increasing efficiency.

Adani Power (APL) aims to achieve greenhouse gas reduction targets by evaluating the possibility of potential implementation of ammonia as a fuel in thermal power generation that will utilize Green Hydrogen-derived ammonia in the existing thermal power plant. Kowa supported APL by conducting a global survey of hydrogen and ammonia-related technologies being utilised for power generation.

As per the company's press release, IHI Corporation has demonstrated its ammonia co-firing technology at a large-scale commercial coal-fired power plant in Japan and responded to many inquiries related to ammonia co-firing globally.

The parties, will consider the possibility of ammonia co-firing through the studies, aiming to de-carbonize APL's coal fired assets with the objective to potentially implement the technology in other coalfired units within India.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.

The company reported a consolidated net profit of Rs 218 crore in Q3 FY22 as against a net loss of Rs 289 crore in Q3 FY21. Total income for Q3 FY 2022 was Rs 5,594 crore, down by 21% as against Rs 7,099 crore in Q3 FY 2020-21.

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