Adani Power acquires 1,200 MW thermal project in Madhya Pradesh

23 Mar 2022 CW Team

Adani Power Limited has now completed the acquisition of a 1,200 MW thermal power project of Essar Power located in Mahan, Madhya Pradesh.

The Essar Power M P Limited is currently undergoing insolvency resolution.

In a regulatory filing, it was said that the total acquisition cost of Essar Power M P Limited is over Rs 4,250 crore, which includes the estimated cost of compliance along with environmental and emission norms.

Adani Power Limited completed the acquisition of 100% of paid-up share capital as well as management control of Essar Power M P Limited (EPMPL), which under the Insolvency and Bankruptcy Code is undergoing insolvency resolution.

Essar Power M P Limited owns a 1,200 MW thermal power plant in the district of Singrauli in Madhya Pradesh.

Adani Power had been awarded as the successful bidder for the 1,200 MW project in Madhya Pradesh in June 2021.

The Mahan power plant is a 2×600 MW - 1,200 MW captive coal-fired pithead power plant in the Singrauli district of Madhya Pradesh. Mahan power plant is a power supplier via the Mahan-Sipat transmission line, built by the Essar Power Transmission Company that had been commissioned in September 2018.

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Also read: Adani Power gets NCLT nod for 1,200 MW thermal project in MP

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