The Competition Commission of India (CCI) has cleared Adani Power's deal to buy Lanco Infratech’s coal-based power plant at Udupi, in Karnataka.
As per the deal, Adani Power will buy Lanco’s 1,200 MW Udupi power plant for more than Rs 6,000 crore. The deal is considered to be the largest in India’s thermal power industry, both in terms of value and capacity.
CCI observed, while clearing the deal, 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.
Adani Power's present installed power generation capacity is 8,580 MW.
The Udupi power plant is India's first independent power project in the country based on 100 per cent imported coal with a captive jetty of four million tpa and an external coal handling system located at Mangalore port.
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Udupi Power Project