Mumbai, July 8 (UNI) Adani Power Ltd officially announced here today that it has acquired the 600-MW coal-fired thermal power plant of Vidarbha Industries Power Ltd (VIPL) located at Butibori, in Maharashtra’s Nagpur district, for Rs 4,000 crore, through the insolvency route.
The development came after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved a resolution plan for VIPL on June 18, according to the statement. After this acquisition, Adani Power Ltd has an operating capacity of 18,150 MW.
The company plans to achieve its target of 30,670 MW capacity by 2029-30 and expand its base-load power generation portfolio through a mix of brownfield and greenfield projects.
The company is presently engaged in constructing six brownfield ultra supercritical thermal power plants (USCTPP) of 1,600 MW each, at its existing locations in Singrauli-Mahan (Madhya Pradesh), Raipur, Raigarh and Korba (Chhattisgarh), as well as Kawai in Rajasthan, in addition to another 1,600 MW greenfield USCTPP at Mirzapur in Uttar Pradesh.
The company is also setting up a 1,600-MW greenfield USCTPP in Mirzapur, Uttar Pradesh besides a 1,320 MW supercritical power plant at Korba, which it had acquired earlier.
“As we continue expanding our portfolio, we remain committed to supporting India’s vision of ‘Electricity for All’ by delivering reliable, affordable base-load power that fuels the country’s sustainable growth,” Adani Power Ltd CEO SB Khyalia said.
