IPP | Staff Reporter, India

India's Adani Power to ink deal on building a $2b plant in Jharkhand

It's still part of capacity boosting measures, sources said.

Reuters recently reported that India's Adani Power will soon sign a deal to set up a $2.2 billion coal-based power plant in Jharkhand, two people with knowledge of the matter said, as its controlling shareholder aims to nearly double capacity this decade.

The company's shares, which were trading flat, rose as much as 4.4 percent to 26.35 rupees after the Reuters story.

"The utility, controlled by billionaire Gautam Adani, plans to build two power units with a total capacity of 1,600 megawatts (MW) and construction could begin by December, one of the people said, adding there is a meeting scheduled in Jharkhand next week and a deal would be sealed this month," Reuters said in its report. 

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