Adani completes acquisition of 1,370 MW Chhattisgarh coal-fired plant (India)

7 Aug 2019

India's independent power producer Adani Power has completed the acquisition of GMR Chhattisgarh Energy Ltd (GCEL). Adani acquired a 52.38% stake from lenders and the remaining 47.62% from the GMR Group. GCEL owns and operates the 1,370 MW Chhattisgarh supercritical coal-fired power plant located in Raikheda, in Raipur district (India). The first 685 MW unit was commissioned in June 2015 and the second unit followed in March 2016. The power plant has been allotted two coal blocks with estimated reserves of over 90 Mt, namely Talabira I in Sambalpur district in Odisha and Ganeshpur in Jharkhand. This transaction, along with the recently concluded acquisition of the 600 MW Korba West Power plant, raises Adani's thermal power capacity to 12.5 GW.

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