Adani Power acquires 49% stake in OPGC
The Adani Power Limited (APL), the country’s largest private sector power producer, on Tuesday signed a definitive agreement to acquire 49% of the stakes in the Odisha Power Generation Corporation (OPGC) from the affiliates of The AES Corporation (AES), a US-based global energy company.
The State Government holds the balance 51% stake.
The OPGC operates a 1,740-MW thermal power plant at Banharpalli in Jharsuguda district which is the mainstay of the State for base load power supply and is among the lowest-cost power generators in the State. The supercritical capacity of 1,320 MW is a recently-commissioned modern plant with low carbon footprint.
The plant has a long-term power purchase agreement (PPA) valid for 25 years with the State-owned off-taker GRIDCO and sources fuel from a nearby captive mine.
