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Adani power concludes acquisition of Lanco Infra Udupi plant

In one of the largest acquisition of thermal power in the country, Adani Power Ltd (APL) said that it has completed the acquisition of Lanco Infratech’s Udupi Power plant for Rs 6,300 crore.

Adani Power Ltd has completed “the acquisition of 100% of the shares of Udupi Power Corporation Ltd (UPCL) from Hyderabad based Lanco Infratech Ltd,” the company said in a statement.

The Adani Group Chairman Gautam Adani said, “The completion of the Udupi Power acquisition formalises the entry of Adani Power into Southern India and is further testimony to our commitment to enhance our pan-India footprint in the Indian power sector.”

“The Adani Group remains committed to helping India on its path to attaining energy sufficiency… The Udupi Power acquisition is thus, a huge step for us as it will definitely help us deliver on our promise of achieving 20,000 megawatt of capacity by 2020.”

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