NTPC Wins Bid For Avantha's MP Power Plant
2020-01-07 Merger and Acquisitions Power Western India
NTPC has won the bid for Avantha Group's power plant in Madhya Pradesh, with a Rs 1,900-crore offer that was higher than Adani Group's bid, according to a report by The Economic Times. The state-run power company’s bid for the stressed unit was about two-and-a-half times higher than Adani Power’s offer of Rs 750 crore, sources told the paper. Adani Power valued the 600 megawatt (MW) Jhabua plant at Rs 1.25 crore per MW. NTPC’s offer, on the other hand, valued the unit at Rs 3.2 crore per MW, the report said. NTPC’s offer was also the highest bid in terms of price per MW, the report added. This is the first time NTPC has bid for a stressed project.