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Adani Power to acquire 1,200 MW Mahan project

Monday, 21 Jun 2021
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Adani Power (APL) will acquire 1,200 MW Essar Power's Mahan project located at Singrauli district of Madhya Pradesh.

The Resolution Professional of the National Company Law Tribunal (NCLT) issued a letter of intent (LoI) to Adani Power on 17 June 2021.

Essar Power's Mahan power plant supplies power through the Mahan-Sipat transmission line and is also connected with a railway siding 18 km away from the plant for the supply of coal and other raw materials. Adani Power will shell out close to Rs 3,000 crore for the Mahan project.

It added that the closure of the transaction will be subject to obtaining necessary approval from NCLT and satisfaction of conditions precedent under the Resolution Plan.

SB Energy's portfolio consisted of solar projects of 4,180 MW, wind-solar hybrid capacity of 450 MW and 324 MW of wind power projects. AGEL has emerged as one of the largest renewable energy companies with an asset portfolio of over 24,000 MW at various stages of development.

Adani Power's thermal project portfolio consists of 12,500 MW generation capacity spread across Gujarat, Karnataka, Chhattisgarh, Maharashtra and Rajasthan. It is also commissioning 1,600 MW project in Jharkhand. The company will consolidate its leadership position in the power sector further with the addition of 1,200 MW generation asset.

Essar Power's Mahan project that operates two units of 600 MW can be expanded by one more unit to make it 1,800 MW project. Essar Power commissioned 600 MW unit each in late 2012 and in mid-2017 respectively.

 

 
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