Adani Power is all ready to acquire Avanta group’s Korba West Power -- a wholly owned subsidiary of Avantha Power. It has an installed capacity of 600 MW in Chhattisgarh.

Another 600 MW project is being implemented in the second phase for an estimated value of Rs 4,200 crore. The deal is likely to be signed between the two companies soon.

Since August 2014, this will be the second major acquisition by Adani Power. It has already entered into a definitive agreement to acquire Lanco Infrastructure's 1,200 MW Udupi thermal power plant in Karnataka, for Rs 6,000 crore. This consolidates its position as an independent power producer in the country with an overall installed capacity of 8,620 MW.

Avantha Power is also keen on signing a deal with the consortium of Tata Power and ICICI Venture for its second half -- Jhabua Power, which is implementing 1,260 MW thermal capacity in two phases of 600 MW and 660 MW in Madhya Pradesh. This will result in the Avanta group’s exit from the power generation.

More Project Info:
Coal Based Power (Raigarh) Project - Phase I