{"id":421366,"date":"2021-06-19T15:18:28","date_gmt":"2021-06-19T09:48:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=421366"},"modified":"2021-06-19T15:18:28","modified_gmt":"2021-06-19T09:48:28","slug":"adani-power-emerges-as-successful-bidder-for-essar-powers-1200-mw-mahan-project-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/adani-power-emerges-as-successful-bidder-for-essar-powers-1200-mw-mahan-project-2\/","title":{"rendered":"Adani Power emerges as successful bidder for Essar Power&#8217;s 1,200 MW Mahan project"},"content":{"rendered":"<p>Adani Power has emerged as the successful bidder for Essar Power&#8217;s 1,200 MW thermal power project in Mahan, Madhya Pradesh.<\/p>\n<p>The Adani Power bid for the project has been approved by a committee of creditors. Now, it will have to seek the NCLT approval to acquire the project, which is undergoing insolvency proceedings.<\/p>\n<p>&#8220;This is to inform that the Committee of Creditors of Essar Power M P Ltd (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code, has approved the Resolution Plan submitted by Adani Power Ltd,&#8221; a BSE filing by Adani Power said on Friday.<\/p>\n<p>EPMPL owns a 1,200 MW power plant in Singrauli district, Madhya Pradesh, it added.<\/p>\n<p>Pursuant to this approval, the Resolution Professional appointed by the National Company Law Tribunal, Delhi has issued a letter of intent dated June 17, 2021, to the company, it stated.<\/p>\n<p>According to industry sources, the deal size of the project is estimated at around Rs 2,800-Rs 3,000 crore.<\/p>\n<p>The closure of the transaction will be subject to obtaining necessary approval from the NCL T and satisfaction of conditions precedent under the resolution plan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adani Power has emerged as the successful bidder for Essar Power&#8217;s 1,200 MW thermal power project in Mahan, Madhya Pradesh. The Adani Power bid for the project has been approved by a committee of creditors. Now, it will have to seek the NCLT approval to acquire the project, which is undergoing insolvency proceedings. &#8220;This is to inform that the Committee of Creditors of Essar Power M P Ltd (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code, has approved the Resolution Plan submitted by Adani Power Ltd,&#8221; a BSE filing by Adani Power said on Friday. EPMPL [&hellip;]<\/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":[132],"tags":[],"class_list":["post-421366","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421366","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=421366"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421366\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=421366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=421366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=421366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}