Adani Power completes acquisition of Udupi Power Corporation

From Lanco Infratech

Adani Power announced the completion of the acquisition of 100% of the shares of Udupi Power Corporation (UPCL) from Hyderabad based - Lanco Infratech. Deal valued at Rs 6,300 crore Udupi Power Corporation (UPCL) is a 1200 MW power plant based on imported coal and includes a captive jetty for coal imports. This is the largest acquisition in the thermal power space in recent times. The transaction was announced earlier last year in August 2014. The Udupi Power Corporation (UPCL) has long term power sale agreements with the Discoms of the states of Karnataka and Punjab.

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