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I had a couple of questions on Slide 25. We have long -term PPAs that are in the market for 13.2 GW and on the same side, we have an untied capacity of 11.1. Our historic strike rate has been about 2/3 on the market in the last 2 years. I wanted to understand like which are the likely states, which we would probably see the bidding close in the next, let's say, this fiscal?
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Understood. Sir, my second question is on capacity expansion timeline and thanks for the disclosure over there annually putting out what is expected. In the next 2 years, in FY '27 and '28, you are expecting 1,320 and 1,600 MW. Just wanted to understand which quarters and which plants are these likely to be? Are we likely to have them back ended? Or it could be evenly split FY '27 this year and FY '28?
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Last question is on capital expenditure. If you can outline for next 2 to 3 years, what will be the annual run rate that you would be incurring?
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Analyst questions
Girish Acchipalia
Morgan Stanley
1Call
1Company
ADANIPOWER
All company callsAdani Power Limited
Adani Power Limited
23 Jul 2026