Adani-Ambani in the race to acquire SKS Power: The company owes about Rs 1,900 crore, the deal is important for the business of both

Posted on 5th Jan 2023 02:09 pm by rohit kumar

Two of India's biggest business houses, the Adani Group and Reliance Industries (RIL), are in the race to acquire Chhattisgarh-based SKS Power. Bank of Baroda and SBI owe about Rs 1,900 crore on this plant. Other bidders include NTPC, Torrent Power, Sharda Energy & Minerals, Jindal Power, and Singapore-based Vantage Point Asset Management. This has been claimed in some media reports.

 

Adani is already in the thermal power business

Adani is already in the business of thermal power. Adani Power, a group company, has an installed capacity of 13,650 MW with a presence in Gujarat, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, and Madhya Pradesh. Therefore, the acquisition of this coal-based plant is of great importance to the Adani Group. Adani Group has mines in Australia, from where coal of high calorific value is obtained.

 

Reliance's focus on new energy

Talking about Reliance, the company's chairman Mukesh Ambani has already told that his focus is on new energy. There are plans to build a Giga Complex in Jamnagar with four Giga factories for power electronics and solar PV (photovoltaic) manufacturing, which will include cells and modules. Reliance will need thermal power for green hydrogen, as there is a lot of manufacturing involved.

 

Also Read: One-third of the world will be in recession in 2023: IMF head warned, said- China, America, and Europe will be the reason

Other news

Chardham Yatra 2024: The doors of Kedarnath Dham open at an auspicious time, and the doors of Gangotri-Yamunotri will also open today.

Chardham Yatra will start with the opening of the doors of Kedarnath, Gangotr

Covid-19 Pandemic: Why is China shying away from giving information about the increasing cases of Corona? Increased concerns around the world

The coronavirus spread from Wuhan city of China has taken its rampant form and corona has also ca

Uniform Civil Code: Uniform Civil Code bill can be passed in Uttarakhand Assembly today, know its special features

After two years of efforts, Chief Minister Pushkar Singh Dhami on Tuesday created history by layi

'His place is in Tihar jail', CM Saini attacked Kejriwal; called him a black spot for Haryana.

Haryana Chief Minister Nayab Singh Saini on Sunday fiercely targeted former Delhi Chief Minister

Trudeau on backfoot over Nijjar's murder: Said- there is no solid evidence against India; India said- Canadian PM is responsible for spoiling relations

Canadian Prime Minister Justin Trudeau has admitted that when he accused Indian agents of being i

US Tariff: America imposed 25% additional tax on India, Shashi Tharoor said- this is double standard; we should learn from it

US President Donald Trump has imposed a 25% additional tax on goods coming from India. This tax h

Weather Update Today: Forecast of rain in these states today and tomorrow, IMD told in which states the heatwave will prevail

Apart from Delhi-NCR, there has been a change in the weather after the rains in other areas. The

'The perfectionist has failed...', Aamir Khan recreates the viral meme of chess player Magnus Carlsen.

At this time, a video of Norway-based chess player and five-time champion Magnus Carlsen is going

Delhi Election 2025: Restlessness increased within BJP before the elections, many leaders on the path of rebellion

By declaring MLA Mohan Singh Bisht as the candidate from Mustafabad, BJP has been successful in r

T20 WC IND vs PAK: Good news for Indian fans, Sachin Tendulkar may go to America to watch the India-Pakistan match

Former Indian batsman Sachin Tendulkar may reach to watch the T20 World Cup match between India a