Gautam Adani's energy unit set to acquire GMR thermal power plant

Indian billionaire Gautam Adani’s energy unit is nearing a deal to acquire a 1,370-megawatt thermal power plant backed by GMR Infrastructure, according to people with knowledge of the matter.

Adani Power Ltd. will take over about Rs 38 billion ($543 million) of loans out of a total of Rs 58 billion that GMR Chhattisgarh Energy owes, said the people, who asked not to be identified because the information is private.

Adani Power will also assume non-funded liabilities of about Rs 14 billion, the sources said.

The Reserve Bank of India (RBI) has been looking to restructure stressed loans that have