Adani Power completes acquisition of Essar's 1,200 MW Mahan project in MP

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Adani Power on Wednesday said it has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.

The cost of acquisition of Essar Power M P Ltd, which is undergoing insolvency resolution, is over Rs 4,250 crore, including estimated cost of compliance with environmental and emission norms, it said in a regulatory filing.

"Adani Power Limited has completed today the acquisition of 100 per cent 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," it said. EPMPL owns a 1,200 MW thermal power plant in Singrauli District, Madhya Pradesh.

In June 2021, Adani Power had emerged as the successful bidder for the 1,200 MW project.