Adani Power update on resolution plan submitted for Lanco Amarkantak Power

Adani Power announced that the Committee of Creditors (COC) of Lanco Amarkantak Power (LAPL), a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC) has approved the Resolution Plan submitted by Adani Power.

In this regard, APL has received a Letter of Intent (LOI) from the Resolution Professional ("RP") on 04 March 2024 at 11:25 p.m.

LAPL owns and operates a 2x300 MW (600 MW) thermal power plant (PhaseI) at Pathadi Village in Korba District of Chhattisgarh. The Phase-I capacity is tied up with Haryana and Madhya Pradesh DISCOMs under long term Power Purchase Agreements. It is also setting up 2x660 MW (1320 MW) expansion capacity under Phase-II.

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