Adani Power to hive off Mundra plant; Adani Green Energy no longer a subsidiary of Adani Enterprises

Adani Power has approved the hiving off of its 4,620 MW Mundra power station to its subsidiary, Adani Power Mundra Limited. The sale is for a lump sum amount with no specific values assigned to individual assets and liabilities. This is expected to enable Adani Power to source its funding more efficiently for investing in capacity expansion of its subsidiaries and for the acquisition of assets. In a separate development, Adani Enterprises Limited has diluted its stake in Adani Green Energy Limited (AGEL) to below 50 per cent, as a result of which AGEL has ceased to be a subsidiary of Adani Enterprises Limited with effect from June 6, 2017.


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