Couple of months after it acquired Lanco Infratech’s 1200 MW power plant in Udupi, Gautam Adani-led Adani Power on Monday announced the acquisition of Korba West Power Co Ltd (KWPCL) that owns a 600 MW coal-based power plant at Korba in Chhattisgarh. According to an official release, the company has “executed a binding term sheet for acquisition
Adani group company Adani Power Ltd has decided to call off its plan to acquire DB Power Ltd, which owns and operates a 2x600MW (megawatt) thermal power plant in Janjgir Champa district of Chhatisgarh.
This comes at a time when the ports-to-energy conglomerate is battling fallout of a damning report by a US short-seller that alleged accounting fraud and stock manipulation, allegations that the Adani group has vehemently denied.