Adani Power has informed that the Committee of Creditors (CoC) of Lanco Amarkantak Power (LAPL), a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC) has approved the Resolution Plan submitted by Adani Power (APL). In this regard, APL has received a Letter of Intent (LOI) from the Resolution Professional (RP) on March 04, 2024 at 11:25 pm. LAPL owns and operates a 2x300 MW (600 MW) thermal power plant (PhaseI) at Pathadi Village in Korba District of Chhattisgarh. The Phase-I capacity is tied up with Haryana and Madhya Pradesh DISCOMs under long term Power Purchase Agreements. It is also setting up 2x660 MW (1320 MW) expansion capacity under Phase-II. The implementation of the resolution plan is subject to the terms of the LOI and requisite approvals from the NCLT and / or any other regulatory authority / courts / tribunal (as the case may be) under applicable laws. We shall promptly disseminate any further material updates on this matter on occurring of the same.
The above information is a part of company’s filings submitted to BSE.
