M&A

M&A

Adani Power completes acquisition of Essar Power MP's 1,200 MW project for Rs.4,250-Cr

Business Line  

Adani Power Ltd has completed the acquisition of 100% of paid up share capital and management control of EPMPL (Essar Power M P Ltd), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code. EPMPL owns a 1,200 MW thermal power plant in Singrauli District, Madhya Pradesh. The cost of acquisition is over INR 4,250 crore, including estimated cost of compliance with environmental and emission norms. In June 2021, Adani Power had emerged as the successful bidder for the 1,200 MW project.