Adani Power on 3rd November 2021 said that it has got National Company Law Tribunal (NCLT) approval to acquire Essar Power's 1,200 megawatt thermal power project in Mahan, Madhya Pradesh. NCLT, Principal Bench at New Delhi, in its order dated 1st November 2021, approved the resolution plan submitted by Adani Power Ltd for acquisition of Essar Power M P Ltd,
EPMPL owns a 1,200 MW thermal power plant in Singrauli District, Madhya Pradesh.
The acquisition shall be subject to satisfaction of conditions precedent mentioned under the Resolution Plan, it stated.
Earlier in June this year, Adani Power had emerged as the successful bidder for the Essar Power's 1,200 megawatt project.
According to industry sources, the deal size of the project is estimated at around Rs 2,800-3,000 crore.