Abu Dhabi/IBNS: Adani Groups subsidiary Adani Power Limited on Monday (August 27) incorporated a wholly-owned subsidiary, Adani Power Middle East Ltd. in Abu Dhabi, United Arab Emirates (UAE), the company informed the exchanges.
The objective of the subsidiary will be to invest in power, infrastructure, and related fields, the company added in the exchange filing, according to reports.
The authorised capital of Adani Power Middle East is USD 27,000 shares of USD 1 each, as per the statement, reports Mint, adding that Adani Power owns 100 percent of the shares in the new Incorporated Company, Adani Power Middle East Ltd.
Adani Power Ltd (APL), with a power generation capacity of 15, 250 MW, is the largest private thermal power producer in India.
APL, which claims to be the worlds first company to set up a coal-based Supercritical thermal power project registered under the Clean Development Mechanism (CDM) of the Kyoto Protocol, has thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, and a 40 MW solar power project in Gujarat.
