Adani Power in talks with Welspun Group to buy power plants

Adani Power on Wednesday said it is in talks with Welspun Group for buying ready to build coal-fired power plants.

"The company has entered into an MoU (memorandum of understanding) for due diligence with Welspun to buy certain ready to build coal fired power plants," Adani Power said in a BSE filing on Wednesday.

"In the event the company enters into definitive agreement, we will disclose the same," it said in its statement to the bourse.

However in its statement, company did not mention about the amount of investment for buying these ready to build coal fired power plants. Some media reports said that the company had inked an initial agreement to buy two ready to build coal fired power plants from the Welspun Group for Rs 400 crore.