Adani Power to buy 49% stake in Odisha Power for Rs 1,019 crore

Adani Power buys stake

Adani Power will acquire US-based The AES Corporation’s 49 per cent equity stake in Odisha Power Generation Corporation for USD 135 million (around Rs 1,019 crore), the Adani group firm confirmed on Tuesday.

Adani Power will acquire a total of 89,30,237 equity shares held in OPGC constituting 49 per cent of the total issued, paid-up and subscribed equity share capital of OPGC for USD 135 million.

“Adani Power Ltd (APL) has signed and confirmed an absolute agreement to procure the 49 per cent stake in Odisha Power Generation Corporation (OPGC) from the unifies of The AES Corporation (AES), the US-based global energy company,” a regulatory filing disclosed.

The OPGC controls 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha.

LEAVE A REPLY

Please enter your comment!
Please enter your name here