Mukesh Ambani and Gautam Adani Team Up for Groundbreaking Power Project

In a surprising move, Bharatiya billionaires Mukesh Ambani and Gautam Adani, known for their fierce rivalry in the business world, have come together for their first-ever collaboration. The collaboration involves Ambani’s company, Reliance Industries, acquiring a 26 percent stake in Adani Power’s project in Madhya Pradesh, marking a significant step in their relationship.

Reliance Industries will acquire 5 crore equity shares in Mahan Energen Ltd, a subsidiary of Adani Power Ltd, for a total investment of ₹50 crore. This investment grants Reliance access to 500 MW of electricity generated by the power project for captive use. The agreement, signed for a duration of 20 years, allows Reliance to utilize the electricity under the captive user policy defined by the Electricity Rules, 2005.