New Delhi, May 21 -- Adani Power announced on Thursday, 20 May, that it has finalised agreements with Jaiprakash Associates to purchase a 24% stake in Jaiprakash Power Ventures and the 180 MW Churk thermal power plant located in Uttar Pradesh, as part of a resolution plan approved by the NCLT for JAL.

In this deal, Adani Power entered into a Share Purchase Agreement to acquire JAL's 24% ownership in JPVL for approximately Rs.2,993.6 crore. Additionally, the company signed a Business Transfer Agreement to acquire the Churk thermal power plant and associated assets, including JAL's 11.49% stake in Prayagraj Power Generation Company Ltd, for Rs.1,200 crore.

The purchase is anticipated to enhance Adani Power's generation capacity, broaden i...