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RIL picks up 26% in Adani firm
Financial Express Mumbai
|March 29, 2024
IN A FIRST-EVER collaboration between the two of the country's largest conglomerates, Mukesh Ambani's Reliance Industries (RIL) will buy 26% stake in a power project of Gautam Adani's Adani Power for using 500 megawatt for captive use.
Adani Power on Thursday said its subsidiary Mahan Energen (MEL) has entered into a 20-year long-term power purchase agreement for 500 MW with RIL under the captive user policy as defined under the Electricity Rules, 2005.
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