Adani Power Limited (APL) has signed a definitive agreement to acquire 49 per cent stake in Odisha Power Generation Corporation (OPGC) from the AES Corporation (AES), a US-based global energy company for USD 135 million.
Adani Power will acquire a total of 89,30,237 equity shares held in OPGC representing 49 per cent of OPGC’s total issued, paid-up and subscribed equity share capital. OPGC operates a thermal power plant of 1,740 MW in Jharsuguda district. The balance 51 per cent stake in OPGC is owned by the state government of Odisha.