Companies

CCI approves Adani Power’s 49% stake buy in OPGC

Our Bureau New Delhi | Updated on July 30, 2020 Published on July 30, 2020

The Competition Commission of India (CCI) has approved Adani Power’s proposed acquisition of 49 per cent stake in Odisha Power Generation Corporation Ltd (OPGC).

The competition watchdog tweeted on Wednesday about its approval for this transaction.

It may be recalled that Adani Power Limited had in late June announced that it will acquire the US-based AES Corporation’s 49 per cent equity stake in OPGC for $135 million (about ₹1,019 crore).

OPGC operates 1,740 MW thermal power plant in Jharsuguda district, Odisha. The State government holds the balance 51 per cent. In 2018-19, OPGC recorded a turnover of ₹887.71 crore.

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Published on July 30, 2020
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