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

On Wednesday, Adani Power Limited received approval from the National Company Law Tribunal (NCLT) for the acquisition of Essar Power's thermal power project of 1,200 MW in Mahan, Madhya Pradesh.

Adani Power told the media that the Principal Bench of NCLT, New Delhi, has approved the resolution plan of Adani Power Limited for acquiring Essar Power, a firm undergoing insolvency resolution under the Insolvency and Bankruptcy Code.

Essar Power owns a 1,200 MW thermal power plant in Singrauli, Madhya Pradesh.

The acquisition of Essar Power Limited has to be subjected as per the satisfaction of the conditions precedent mentioned under the Resolution Plan of Adani Power, the company said.

Earlier this year, in June, Adani Power had become a successful bidder for Essar Power's 1,200 MW thermal power project.

According to the official sources, the thermal project cost is estimated between Rs 2,800 to Rs 3,000 crore.

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