Adani Power Limited has entered into definitive agreements to acquire a 24% equity stake in Jaiprakash Power Ventures Limited and a 180 MW thermal power plant in Churk. These strategic acquisitions, part of a larger approved resolution plan, are set to bolster the company’s thermal and hydro power generation capacity. The transaction will be completed in cash and aligns with the company’s broader growth objectives in the power sector.
Strategic Asset Acquisition
Adani Power Limited has announced the signing of definitive agreements to acquire key power assets from Jaiprakash Associates Limited. This move follows the company’s earlier expressed interest in participating as an implementing entity under an approved resolution plan. The acquisitions are set to be finalized on the designated ‘Effective Date,’ within a maximum of 90 days from the resolution plan’s approval on March 17, 2026.
Details of the Transaction
The deal encompasses two primary components. Firstly, Adani Power will acquire a 24% shareholding in Jaiprakash Power Ventures Limited for a total consideration of INR 2,993.59 crore. Secondly, the company is acquiring a 180 MW thermal power plant located in Churk, along with other related assets, including an 11.49% stake in Prayagraj Power Generation Company Limited, for INR 1,200 crore.
Impact on Business Operations
These acquisitions are fully aligned with Adani Power’s core business of power generation. Jaiprakash Power Ventures currently manages an aggregate capacity of 2,220 MW across thermal and hydro plants, alongside a 2 MTPA cement grinding unit. By integrating these assets, Adani Power aims to expand its operational footprint and strengthen its competitive position in the Indian power market. All necessary regulatory clearances, including approval from the Competition Commission of India, have already been secured.
Source: BSE
