CCI Clears CEPL Acquisition by DAIT and Adani Power

The Competition Commission of India (CCI) has approved the proposed acquisition of Coastal Energen Private Limited (CEPL) by Dickey Alternative Investment Trust (DAIT) and Adani Power Limited. CEPL specializes in power generation and sales using coal, operating an imported coal-based thermal power plant in Tuticorin, Tamil Nadu. The company is currently undergoing corporate insolvency resolution. The acquisition involves the transfer of 100% shareholding in CEPL to DAIT and Adani Power. The approval from CCI signifies a significant step in the consolidation of the energy sector, potentially impacting power generation dynamics in the region. The combination of DAIT and Adani Power’s resources with CEPL’s operational expertise is expected to enhance operational efficiencies and contribute to the growth of the power generation industry in India.