Adani Power Secures Assets under NCLT Resolution Plan
Adani Power Limited has entered into binding agreements to acquire the power assets of Jaiprakash Associates Limited (JAL) for a total consideration of ₹4,193.59 crore (approximately ₹4,200 crore). The acquisition is part of an debt resolution plan approved by the National Company Law Tribunal (NCLT) for the debt-laden Jaiprakash Associates.
Under the terms of the agreement, Adani Power will acquire a 24% equity stake in Jaiprakash Power Ventures Limited (JPVL) for ₹2,993.60 crore. Additionally, the company will acquire a 180 MW coal-fired thermal power plant located in Churk, Uttar Pradesh, along with JAL’s 11.49% stake in Prayagraj Power Generation Company Limited, for a combined consideration of ₹1,200 crore.
Strategic Capacity Expansion and Sector Consolidation
The acquisition will add operational baseload capacity to Adani Power’s portfolio and strengthen its position in the northern power grid. In a parallel transaction under the same NCLT resolution plan, sister company Adani Ports and Special Economic Zone (APSEZ) has agreed to acquire Jaypee Fertilizers & Industries Limited for ₹1,500 crore to secure industrial land in Kanpur, demonstrating the Adani Group’s broader strategy of acquiring distressed infrastructure assets.
