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Reliance Power buys Reliance Infra assets

Anil Dhirubhai Ambani Group (ADAG) firm Reliance Power Ltd on Friday announced the acquisition of 433 MW (megawatt) of power generation assets from group company Reliance Infrastructure for Rs 1,095 crore.
Hindustan Times | By HT Correspondent, New Delhi
UPDATED ON MAY 28, 2010 10:11 PM IST

Anil Dhirubhai Ambani Group (ADAG) firm Reliance Power Ltd on Friday announced the acquisition of 433 MW (megawatt) of power generation assets from group company Reliance Infrastructure for Rs 1,095 crore.

“The board of directors of the company at its meeting on Thursday decided to acquire 433 MW of generation capacity owned by Reliance Infrastructure for Rs 1,095 crore. This includes 220 MW at Samalkot in Andhra Pradesh, 165 MW in Kerala and 48 MW in Goa,” Reliance Power said in a statement.

The value of assets is based on independent valuation by global consulting firm KPMG.

“This has been done to bring the entire power generation portfolio under one roof,” Reliance Power CEO J P Chalasani told HT.

RPL will now have over 1,000 MW of operating capacity and 600 MW of the Phase I of Rosa Power Project in UP.

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