Adani Power has reportedly received Competition Commission of India’s (CCI) approval for its proposed deal with Lanco Infratech to buy latter’s 1,200-MW imported coal-fired power plant at Udupi in Karnataka for more than Rs 6,000 crore, marking the biggest acquisition in India’s thermal power industry.
CCI stated that post the combination, the combined market share of Adani, both in terms of installed capacity and electricity generation, would not be significant enough to raise any competition concern.
The deal, largest in thermal power in terms of value and capacity, catapults the Adani Group, already India's biggest private sector power producer, to a bigger league with a capacity of nearly 10,000 MW while helping Lanco reduce debt.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
