Adani Power extends deadline for completing the acquisition of DB Power's thermal assets to 15th January

2 Jan 2023 , 10:09 AM

Adani Power announced that the deadline for completing the Rs7,017 crore deal to acquire DB Power’s thermal power assets has been extended until January 15, 2023.

Previously, the company had extended the completion date by one month to December 31, 2022.

Earlier this year, Adani Power informed the stock exchanges that it plans to acquire DB Power Ltd (DB Power), which owns and operates a running 2×600 MW thermal power plant in Chhattisgarh’s district Janjgir Champa.

DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, which is supported by fuel supply agreements with Coal India Ltd, and its facilities are operating profitably.

The initial term of the MOU was until October 31, 2022, and it can be extended by mutual agreement, stated the company initially.

According to the company, the enterprise value of DB Power was estimated to be Rs7,017 crore, subject to adjustments on the closing date.

In Chhattisgarh, DB Power is in the business of establishing, operating, and maintaining a thermal power generating station.

For feedback and suggestions, write to us at [e-mail]