Adani Power on Wednesday said it has received the approval of the National Company Law Tribunal (NCLT) to acquire Essar Power’s 1,200 MW thermal power project at Mahan in Madhya Pradesh.
According to PTI, the Principal Bench of the NCLT in New Delhi, in its order dated November 01, 2021, approved the resolution plan submitted by Adani Power Limited for the acquisition of EPMPL (Essar Power MP Limited), which is in accordance with the Insolvency and Bankruptcy Code. Under insolvency resolution company. , Adani Power said in a BSE filing.
EPMPL has a 1,200 MW thermal power plant in Singrauli district of Madhya Pradesh.
The acquisition resolution will be subject to the satisfaction of the conditions mentioned under the scheme, it said.
Earlier in June this year, Adani Power had emerged as the successful bidder for Essar Power’s 1,200 MW project.
According to industry sources, the deal size of the project is estimated to be approx. ₹2,800-3,000 crores.
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