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Reliance Industries (RIL) has purchased a 26% stake in a 600 MW unit of Mahan Energen’s thermal power plant. This acquisition follows a 20-year power purchase agreement for 500 MW between RIL and Mahan Energen, a subsidiary of Adani Power. RIL subscribed to 5 crore equity shares, representing a 26% ownership stake in the unit designated as the captive unit under the agreement. Mahan Energen operates with a total capacity of 2,800 MW. This strategic investment allows RIL to secure a stable and long-term power supply for its operations. Additionally, it strengthens the partnership between two of India’s leading conglomerates.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th July 2024 edition.. Get this issue or any of our editions by clicking here…
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