Adani Power on Wednesday said it has completed the acquisition of Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.
The cost of acquisition of Essar Power MP, which is undergoing insolvency resolution, is over ₹4,250 crore, including estimated cost of compliance with environmental and emission norms, it said in a regulatory filing.
"Adani Power Limited has completed today the acquisition of 100 per cent of paid up share capital and management control of EPMPL (Essar Power MP Ltd), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code," it said.
EPMPL owns a 1,200 MW thermal power plant in Singrauli District, Madhya Pradesh.
In June 2021, Adani Power had emerged as the successful bidder for the 1,200 MW project.