Adani Power to acquire DB Power for enterprise value of Rs 7,017 crore

'Buy to help expand operations in thermal power sector in Chhattisgarh'

Adani Power on Friday said it would acquire DB Power from the Dainik Bhaskar group for an enterprise value of Rs 7,017 crore. 

DB Power owns and operates two 600 mega-watt (Mw) thermal power plants in Chhattisgarh. The initial term of the memorandum of understanding between the two companies will be till October 31, 2022, but can be extended further on mutual agreement, Adani Power said.

Incorporated in October 2006, DB Power has long- and medium-term power purchase agreements (PPAs) for 923.5 Mw of its capacity, backed by fuel supply agreements with Coal India, and has been operating its facilities