Adani Power in talks with Welspun Group to buy coal power plants

Adani Power said on Wednesday 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.

"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, the company did not mention about the amount of investment for buying these ready to build coal-fired power plants.

Some media reports said 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.