Adani Power on Thursday announced that it has signed definitive agreements to acquire a 24 percent stake in Jaiprakash Power Ventures and select thermal power assets from Jaiprakash Associates for nearly Rs 4,193.59 crore.

As part of the transaction, Adani Power has entered into a Share Purchase Agreement to acquire the 24 percent stake in Jaiprakash Power Ventures currently held by Jaiprakash Associates.

The company has also signed a Business Transfer Agreement to acquire Jaiprakash Associates’ 180 MW thermal power plant located in Churk, along with related assets. The deal additionally includes the acquisition of an 11.49 percent stake in Prayagraj Power Generation Company held by Jaiprakash Associates.