AES Corp divests entire equity stake in 1,740 MW OPGC 1&2 coal-fired power plants in Odisha

The AES Corporation has signed an agreement to sell its entire equity interest in the 1,740 MW OPGC 1&2 coal-fired power plants in Odisha, India to Adani Power Limited.

AES previously announced a goal to reduce its generation from coal to below 30% by the end of this year and to less than 10% by the end of 2030.

AES owns a 49% equity interest in OPGC 1&2 and the Government of the State of Odisha owns the remaining 51%. This transaction is subject to customary approvals and the consent of the Government of the State of Odisha.