IIF GP acquires minority stake in Adani Power

Mumbai, Oct 25 (UNI) IIF GP, an investment vehicle run by 3i Group, TODAY announced that it has acquired a minority stake in Adani infusing an investmentRs 900 crore.

Adani Power, a subsidiary under the flagship of Ahmedabad-based Adani Group, is developing an independent 2,640 MW coal-based thermal power plant in Gujarat, the company said in a statement.

The project, expected to become operational by 2009, will achieve full capacity by 2010, the statement added.

UNI