The Competition Commission of India (CCI) has cleared Adani Power´s proposed deal with Lanco Infratech to buy latter´s 1,200-MW imported coal-fired power plant at Udupi in Karnataka for more than Rs 6,000 crore.
The deal, the largest in thermal power in terms of value and capacity, catapults the Adani Group, already India´s biggest private sector power producer, to a bigger league with a capacity of nearly 10,000 MW while helping Lanco reduce debt.
Adani Power´s current installed power generation capacity is 8,580 MW. It is also in the business of power transmission in some regions of India. Udupi is India´s first independent power project in the country based on 100 per cent imported coal with a captive jetty of 4 million tonne per annum and an external coal-handling system located at Mangalore port.