Reliance Industries In Historic Deal with Adani Power

  • Reliance Industries Limited (RIL) acquired a 26% stake in Mahan Energen Limited (MEL), a subsidiary of Adani Power.
  • This marks the first-ever business collaboration between the two Indian industrial giants, Mukesh Ambani of Reliance and Gautam Adani of Adani Group.
  • The deal grants RIL access to 500 MW of electricity generated by MEL's power plants in Madhya Pradesh for captive consumption.
  • To comply with regulations, RIL will acquire 5 crore shares of MEL with a face value of Rs 10 each.
  • A 20-year power purchase agreement has also been signed between the two companies.

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