Adani Power Ltd will soon sign a deal to set up a $2.2 billion coal-based power plant in eastern Jharkhand state, two people with knowledge of the matter said, as its controlling shareholder aims to nearly double capacity this decade.
The utility, controlled by billionaire Gautam Adani, plans to build two power units with a total capacity of 1,600 megawatts (MW) and construction could begin by December, one of the people said, adding there is a meeting scheduled in Jharkhand next week and a deal would be sealed this month.
The other person, a Jharkhand government official, said most government approvals were in place already.
An Adani Power spokeswoman did not immediately respond to a request for comment.
