CCI clears Adani Power’s 49% stake buy in Odisha Power Generation Corp
The Competition Commission on Thursday said it has approved Adani Power’s proposed purchase of 49 per cent stake in Odisha Power Generation Corporation Ltd (OPGC). In June, Adani Power NSE 0.42 % announced acquiring US-based The AES Corporation’s 49 per cent stake in OPGC for USD 135 million (around Rs 1,019 crore).
OPGC operates a 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha. The plant has a long-term power purchase agreement valid for 25 years with the state-owned GRIDCO and sources fuel from a nearby captive mine.
