Adani Power on Thursday said the agreement to acquire 49% stake in Odisha Power Generation Corporation (OPGC) from the affiliates of the AES Corporation, is formally junked.
The Odisha government, which holds 51% stake in OPGC, had exercised Right of First Refusal (RoFR) to purchase the 49% stake held by AES.
OPGC operates 1,740 MW thermal power plant in Odisha. This plant is the mainstay of Odisha for base load power supply and amongst the lowest- cost power generators in the State. The plant has a long-term power purchase agreement with GRIDCO.
