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Big move by Gautam Adani, his company signs Rs 815 crore deal to acquire...
This purchase is part of Adani's plan to streamline its thermal power operations under one company, aiming for greater efficiency
Updated : Oct 04, 2024, 08:51 AM IST
 "Gautam Adani")
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Adani Power, led by Gautam Adani, has signed an agreement to acquire the 500 MW Dahanu Power Station in Maharashtra for Rs 815 crore. This purchase is part of Adani's plan to streamline its thermal power operations under one company, aiming for greater efficiency.
The deal was completed in two stages, with the power station first being transferred to Adani Properties and then sold to Adani Power. Adani Power believes that bringing Dahanu Power Station under its control will enhance its efficiency and reliability by using the company’s extensive experience in power generation.
According to reports, the acquisition will be funded through internal resources, and Adani Power plans to invest an additional Rs 450 crore over the next five years. This investment will help extend the plant’s life and boost its performance.
In another significant move, the Adani Group has merged two of its subsidiaries with Adani New Industries Ltd (ANIL). These subsidiaries, Adani Infrastructure Private Limited and Mundra Solar Technology Limited, will now operate under ANIL, which focuses on green hydrogen and wind turbine manufacturing.
Adani Infrastructure specialises in power project development, while Mundra Solar Technology, a younger firm, focuses on electricity production and distribution. This merger is expected to improve operational efficiency and strengthen the group’s focus on clean energy initiatives.
