1200 MW Udupi Power plant
New Delhi: Lanco Infratech Ltd (LITL) on Wednesday announced that it has sold its 1200 MW Udupi Power plant to Adani Power Ltd, the power business arm of Adani Group for more than Rs6000 crore. Lanco Infratech is the leading integrated infrastructure player in the country having business verticals in EPC, Power, Solar, Natural Resources and Infrastructure.
This deal is likely to bring down Lanco Infratech’s debt and enable to receive about Rs2000 crore as cash and additionally. Adani on the other hand, will take Udupi Power’s long-time debt of around Rs4,000 crore.
Around 90% of the power generated from this imported coal based thermal power plant is supplied to Karnataka and the remaining 10% to Punjab.
The Lanco Udupi Power Plant has already signed with Karnataka Government for further expansion of 1320 MW.
EPC World News Bureau
The post Lanco sells Udupi Power plant to Adani appeared first on EPC World.