Mumbai : Adani power has been awarded the Letter of Intent (LoI) for Korba West Power Company (KWPCL). The Committee of Creditors of KWPCL, a company undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 has approved the Resolution Plan submitted by the company. The National Company Law Tribunal, Ahmedabad has issued a LoI on April 06, 2019 to the Company.
KWPCL owns and operates a 600 MW thermal power plant in Raigarh District, Chhattisgarh. Successful acquisition and implementation of the resolution plan for acquisition of KWPCL will consolidate the company’s position as India’s leading private sector thermal power producer, with a combined thermal power capacity of 11,040 MW.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.