Adani Power and Jindal Power in race to buy Ind-Barath Thermal

Reportedly, Adani Power Limited and Jindal Power Limited (JPL) are in the race to acquire Ind-Barath Thermal Power Limited in a bankruptcy auction.

Both the companies have submitted expressions of interest and are evaluating the prospects of giving respective binding bids. Ind-Barath has two completed power generation units of 150 MW each, located at Tuticorin, Tamil Nadu, but the plants have been shut since 2016 due to the lack of power purchase agreements. Notably, due to the shortage of power supply, several corporates are eyeing distressed electricity generators.

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