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The Economic Times
The Economic Times

Adani Power inks deals to buy Jaiprakash Power stake, Churk assets for over Rs 4,193 crore total

Adani Power NCLT Jaiprakash Associates JAL Adani Group

Adani Power on Thursday said it has entered into definitive agreements with Jaiprakash Associates Ltd (JAL) to acquire a 24% stake in Jaiprakash Power Ventures Ltd (JPVL) and the 180 MW Churk thermal power plant in Uttar Pradesh, as part of the NCLT-approved resolution plan for JAL.

The company said it has signed a Share Purchase Agreement for acquiring JAL’s 24% stake in JPVL for about Rs 2,993.6 crore. It has also entered into a Business Transfer Agreement to acquire the Churk thermal power plant and related assets, including JAL’s 11.49% stake in Prayagraj Power Generation Company Ltd, for Rs 1,200 crore.

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