Adani Power Limited has agreed to acquire DB Power Limited at an enterprise value of Rs 70.17 billion.
DB Power owns and operates a running 2×600 MW thermal power plant at Janjgir Champa district in Chhattisgarh. DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Limited, and has been operating its facilities profitably. The acquisition will help Adani to expand its offerings and operations in the thermal power sector in the state of Chhattisgarh. The initial term of the memorandum of understanding will be till completion of the acquisition on October 31, 2022, which may be extended by mutual agreement. Diliigent Power Private Limited is the holding company of DB Power.