Adani Power $1 billion acquisition of Udupi Power

Overview:

• Adani Power has acquired Udupi Power Corporation for $1 billion from Lanco Group.
• Udupi Power Corporation has developed a 1200MW coal power plant in the Udupi District of the state of Karnataka, which is the country's first independent power project (IPP) based on 100% imported coal with a captive jetty of 4 million tonnes per annum.
• The acquisition is part of Adani's goal of achieving 20,000 MW of operational capacity by 2020.
• This is the largest acquisition in India in the thermal power space.

Katrin Kostadinova - Data analyst