Adani Power said on Monday it has been awarded the letter of intent (LoI) for Korba West Power Company (KWPCL) that owns and operates a 600 MW thermal power plant in Chhattisgarh\u2019s Raigarh district.<\/p>\n
The Committee of Creditors (CoC) of KWPCL\u2014that was undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 201\u2014 has approved the resolution plan submitted by Adani Power, it said in an exchange filing.<\/p>\n
Shares of Adani Power ended Monday\u2019s trading session 0.80% up at `50.15 on the BSE. The resolution professional (RP) appointed by the National Company Law Tribunal, Ahmedabad, has issued a LoI, dated April 6, to the company. \u201cThe closure of the transaction shall be subject to obtaining the necessary approval from the NCLT, Ahmedabad, and satisfaction of the conditions precedent under the resolution plan,\u201d the release said. Adani Power (APL) indicated that successful acquisition and implementation of the resolution plan for the acquisition of KWPCL will consolidate APL\u2019s position as India\u2019s leading private sector thermal power producer, with a combined thermal power capacity of 11,040 MW. \u201cFurther, this reaffirms APL\u2019s credential in developing operation of greenfield projects, and also successfully turning around brownfield acquisitions,\u201d it said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Adani Power said on Monday it has been awarded the letter of intent (LoI) for Korba West Power Company (KWPCL) that owns and operates a 600 MW thermal power plant in Chhattisgarh\u2019s Raigarh district. The Committee of Creditors (CoC) of KWPCL\u2014that was undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 201\u2014 has approved the resolution plan submitted by Adani Power, it said in an exchange filing. Shares of Adani Power ended Monday\u2019s trading session 0.80% up at `50.15 on the BSE. The resolution professional (RP) appointed by the National Company Law Tribunal, Ahmedabad, has issued a LoI, dated […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-268621","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/268621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=268621"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/268621\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=268621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=268621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=268621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}