Adani Power recently said it has completed acquisition of GMR Chhattisgarh Energy (GCEL), which owns and operates a 1,370 MW (2 X 685 MW) power plant at Raikheda village in Raipur.
"52.38% of the equity stake in GCEL was acquired from its consortium of lenders, following the approval of Adani Power's resolution plan to acquire a controlling equity stake and restructure its debt," Adani Power Ltd (APL) said in a filing.
The balance 47.62% stake was acquired from the GMR Group.
"The acquisition of GCEL was concluded at an enterprise valuation of approx. ₹3,530 crore," it added.
The Raikheda power plant, which utilizes boiler and turbine generator equipment supplied by Doosan Heavy Industries, South Korea, is situated close to the coal bearing areas of Chhattisgarh.
