Mumbai, July 8 -- Adani Power Ltd officially announced here today that it has acquired the 600-MW coal-fired thermal power plant of Vidarbha Industries Power Ltd (VIPL) located at Butibori, in Maharashtra's Nagpur district, for Rs 4,000 crore, through the insolvency route.
The development came after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved a resolution plan for VIPL on June 18, according to the statement. After this acquisition, Adani Power Ltd has an operating capacity of 18,150 MW.
The company plans to achieve its target of 30,670 MW capacity by 2029-30 and expand its base-load power generation portfolio through a mix of brownfield and greenfield projects.
The company is presently engaged in constructing si...