Adani Power is set to fully acquire DB Power for an enterprise value of Rs 7,017 crore. DB Power is a Bhaskar Group-promoted company. It is an SPV (Special Purpose Vehicle) of Diligent Power Pvt. Ltd. It owns and operates two coal-based thermal power plants in Chhattisgarh, each having a capacity of 600 MW.

With this deal, Adani Power’s installed thermal power capacity will reach 14,810 MW. Currently, its installed capacity stands at 13610 MW. The company aims to achieve an installed capacity of 16850 MW by 2028.

As of now, Adani Power is the country’s largest thermal power generator. In FY22, Its consolidated revenues were at Rs 31,686 crore, while the consolidated Ebitda (earnings before interest, taxes, depreciation, and amortization) stood at Rs 13,789 crore. This was largely and primarily driven by increased merchant tariffs and greater income recognition in the prior period. The company’s profit after tax (PAT) remained at Rs 4,912 crore, compared to Rs 1240 crores in the year-ago period.

Adani Power’s operations are mainly spread across six states- Maharashtra, Gujarat, Karnataka, Chhattisgarh, Rajasthan, and Madhya Pradesh. The acquisition will assist the company in expanding its operations in the thermal power sector in Chhattisgarh. The company will hold 100% of the total issued, subscribed and paid-up equity share capital and preference share capital of Diligent Power (DPPL).