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The company stated in 2012 that the project has achieved financial closure and that "construction is in full swing."<ref name=pr>[http://www.indiabulls.com/ibgroup/media.htm "Robust results for Indiabulls Power in FY 2011-12,"] Indiabulls press release, April 28, 2012</ref>
The company also received a terms of reference for a stage III of a further 1320 MW in 2009,<ref>[http://bit.ly/1rcTJM8 Terms of Reference,] India MoEF, December 2, 2009.</ref> although stage III is not mentioned in 2014 news updates on the project</ref name=pp/></ref name=rr/> and may be cancelled.
As of July 2014, there are talks of [[Adani Power]] in process of acquiring the power project.<ref name=pp>Piyush Pandey,[http://economictimes.indiatimes.com/industry/energy/power/Adani-eyes-Indiabulls-1350-MW-Amravati-Thermal-Power-Project/articleshow/39282558.cms "Adani eyes Indiabulls' 1,350 MW Amravati Thermal Power Project,"] TNN, July 30, 2014.</ref>
