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Adani Power Limited incorporated a wholly-owned subsidiary, Adani Power Middle East Ltd. on Monday in Abu Dhabi, United Arab Emirates, the company informed the exchanges.
The objective of the subsidiary will be to invest in power, infrastructure, and related fields, the company added in the exchange filing. The authorised capital of Adani Power Middle East is USD 27,000 shares of USD 1 each, as per the statement. Adani Power owns 100 per cent of the shares in the new Incorporated Company, Adani Power Middle East Ltd. With a power generation capacity of 15, 250 MW Adani Power Limited (APL) is the largest private thermal power producer in India. APL has thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, and a 40 MW solar power project in Gujarat. The company claims to be the world's first company to set up a coal-based Supercritical thermal power project registered under the Clean Development Mechanism (CDM) of the Kyoto Protocol. Adani Power Limited (APL) and its subsidiary Mahan Energen Limited (MEL) have recently signed a contract with Bharat Heavy Electrical Limited (BHEL) of Rs 11,000 crore, where BHEL will develop three supercritical thermal power projects for the company The contract, signed on Sunday (August 25), encompasses the supply of critical equipment and the supervision of the erection and commissioning processes for three major power projects. Each project will feature a capacity of 2x800 MW and will be based on advanced Supercritical Technology. The projects are slated to be developed at the following locations: Kawai Phase-II and Kawai Phase-III in Rajasthan, and Mahan Phase-III in Madhya Pradesh. (ANI)
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