Reliance Industries Invested Rs. 5,000 Crore in Mahan Energen Limited, a Subsidiary of Adani Power Limited

Reliance Industries Limited (RIL) has invested Rs. 5,000 crore in Mahan Energen Limited (MEL), a wholly-owned subsidiary of Adani Power Limited. The investment is for the required 26% proportionate ownership in one unit of MEL's 600 MW capacity, which is a captive user of RIL's 500 MW generation capacity. The power purchase agreement between RIL and MEL is for 20 years. RIL and MEL had entered into this agreement on March 27, 2024, and the investment is subject to customary conditions precedent and is expected to be completed within 2 weeks of receiving approvals.