Reliance Industries Acquires 26% Stake in Adani Power’s Mahan Project

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Reliance Industries Limited has recently purchased a 26% stake in Adani Power Limited’s Mahan thermal power project in Madhya Pradesh. This acquisition is part of a strategic collaboration between the two conglomerates, aimed at securing electricity for Reliance Industries’ captive use. A 20-year power purchase agreement (PPA) has been inked between Reliance Industries and Adani Power, covering 500 MW of capacity. Reliance Industries is set to invest Rs 500 million for the stake in a 600 MW unit of Mahan Energen Limited, a subsidiary of Adani Power.

Note: The above-mentioned news was first published by us in our ProjectX India | 15th May 2024 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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