Adani Power Limited has entered into definitive agreements to acquire significant power assets and investments from Jaiprakash Associates Limited (JAL). The transaction, part of an NCLT-approved resolution plan, includes a 24% stake in Jaiprakash Power Ventures Limited and a 180 MW thermal power plant in Churk. These strategic additions align with the company’s core business and are expected to be finalized within 90 days of the March 17, 2026, approval date.
Strategic Asset Acquisition
As part of the implementation of the Approved Resolution Plan, Adani Power Limited has secured definitive agreements to expand its energy portfolio. The deal involves the acquisition of a 24% shareholding in Jaiprakash Power Ventures Limited (JPVL) for approximately INR 2,993.59 crore, alongside the purchase of a 180 MW thermal power plant located in Churk, Uttar Pradesh, for INR 1,200 crore.
Details of the Transaction
The assets acquired include essential components of JAL’s power business. The acquisition of the 180 MW thermal power plant also incorporates an 11.49% stake in Prayagraj Power Generation Company Limited. These acquisitions are being conducted in cash and represent a major consolidation of power generation capacity. The company confirms that these transactions are not related party deals and will be executed at arm’s length.
Integration and Timeline
All regulatory and legal hurdles, including approvals from the Competition Commission of India and the National Company Law Tribunal (NCLT), have been successfully navigated. The acquisition is slated for completion on the ‘Effective Date’, which must occur within 90 days from the NCLT approval granted on March 17, 2026. This move integrates high-potential power assets into Adani Power’s existing operations, further strengthening its footprint in the Indian energy sector.
Source: BSE
