Adani Power calls off MoU with Orient Cement
Adani Power Maharashtra (APML), a wholly owned subsidiary of Adani Power, on Friday terminated a pact between APML and Orient Cement for utilisation of a parcel of land in Maharashtra.
Published: 25th February 2023 08:07 AM | Last Updated: 25th February 2023 08:07 AM | A+A A-
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NEW DELHI: Adani Power Maharashtra (APML), a wholly owned subsidiary of Adani Power, on Friday terminated a pact between APML and Orient Cement for utilisation of a parcel of land in Maharashtra.
The MoU (Memorandum of Understanding) on September 23, 2021, for allowing utilisation of a parcel of land on sub-lease basis, which has been taken on lease by APML from MIDC at its power plant at Tiroda, Maharashtra.
The MoU had a validity period of six months from the date of signing, with a maximum time limit of 365 days for the parties to the MoU for fulfilling their respective conditions. “However, as the parties were unable to fulfill the said conditions after a considerable lapse of time beyond the validity period, it was mutually decided to terminate the MoU,” said the company in an exchange filing.
Meanwhile, Sri Lanka’s investment promotion body has approved two renewable energy projects of Adani Group to be set up in the north and eastern regions of the island nation at a total investment of $442 million. As per the reports, the wind power plant in Mannar will operate at a capacity of 250 MW while the wind power plant in Pooneryn will operate at a capacity of 100 MW.
