Mumbai, Aug. 18 -- The agency has reaffirmed the company's short-term rating at 'CARE A1+'.

CARE Ratings stated that the upgrade of the long-term rating and reaffirmation of the short-term rating on bank facilities and debt instruments of Adani Power (APL) factors in the sustenance of strong operational and financial performance. APL is the largest private thermal power producer in India with operational capacity of 18.33 GW as on 30 June 2026 and under development capacity of nearly 24 GW.

The strong operational performance is demonstrated by actual plant availability factor (PAF) remaining above normative levels as reflected by PAF of 96% in Q1 FY27 and 89% in FY26 across its operational portfolio, leading to full recovery of capacity...