Adani Power plans Rs 18,000 cr investment in Karnataka

The company will be setting up of 1,600 Mw thermal power projects & 1,000 Mw solar project in the state

Adani Power on Thursday said it plans to make an investment totalling Rs 18,400 crore for setting up of 1,600 Mw thermal power projects and 1,000 Mw solar project in Karnataka.

"..We would like to submit that Udupi Power Corporation Ltd, a wholly owned subsidiary of the Company has entered into Memorandum of Understanding (MoU) with Government of Karnataka to set up 2x800 Mw Coal based supercritical power plant in Karnataka with an investment of Rs 11,400 crores," Adani Power said in a filing to NSE.

In another disclosure to the bourse, the company said: "We would like to submit that Adani Green Energy Ltd, a subsidiary of the Company has signed Expression of Interest to set up 1,000 Mw solar power plant in Karnataka with an investment of Rs 7,000 crore."

The bourse had sought response from the company after certain media reports about its plans of investments in the state of Karnataka.