Adani Power

Adani Power extends the timeline to acquire DB Power before the end of Dec | Rare Techy


Deadline to complete it 7,017 crore deal to buy thermal power assets of DB Power Ltd. The company previously pushed back the deadline for completion by a month, until November 30, 2022.

“The parties to the proposed transaction have agreed to extend the long-term termination date to December 31, 2022, to achieve closing/completion,” a BSE filing said.

The operational 2×600 MW thermal power plant owned and operated by DB Power Ltd (DB Power) in Chhattisgarh’s Janjgir Champa district will be acquired by Adani Power, the company informed the stock exchange earlier in August this year.

DB Power operates the facility profitably and has a long- and medium-term power purchase agreement for its capacity of 923.5 MW. This agreement is supported by a fuel supply agreement with Coal India Ltd.

The initial term of the MOU is until October 31, 2022, but it can be extended if both parties agree, according to the original language. It stated that the company value of DB Power is estimated 7,017 crore, subject to change in closing date.

Construction, management and maintenance of thermal power generation facilities in Chhattisgarh is the business of DB Power. Registrar of Companies, Gwalior, where it was incorporated on 12 October 2006.

The income generated by DB Power during the previous three fiscal years 3,488 crore (for FY 2021–22), 2,930 crore (for FY 2020–21), and 3,126 crore (for FY 2019–20), respectively.

DPPL (Rajin Power Pvt Ltd) is the parent company of DB Power.

(With input from PTI)

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