Reliance Industries (RIL) and Adani Power have signed a 20-year power purchase agreement for 500 MW, marking a rare, strategic collaboration between conglomerates led by two of the country’s wealthiest men.
The Mukesh Ambani company will invest Rs 50 crore for a 26% stake in a 600MW unit of Mahan Energen’s thermal power plant. The latter is a wholly owned subsidiary of Gautam Adani-led Adani Power.
