Adani Power Limited (APL) has received a Letter of Intent (LOI) to acquire GVK Energy Limited (GVKEL) through a resolution plan approved by GVKEL’s Committee of Creditors. GVKEL operates a 330 MW hydroelectric power plant in Uttarakhand via its subsidiary, Alaknanda Hydro Power Company Limited. This acquisition is subject to regulatory approvals, including from the National Company Law Tribunal.
Adani Power to Acquire GVK Energy Assets
Adani Power Limited (APL) has taken a significant step towards expanding its operational capacity with the approval of a resolution plan for GVK Energy Limited (GVKEL). The Committee of Creditors (COC) for GVKEL, which is undergoing a Corporate Insolvency Resolution Process (CIRP), has given its nod to APL’s submitted plan. This development was formally communicated to stock exchanges on September 7, 2026.
Key Asset and Next Steps
GVKEL’s core asset is a 330 MW hydroelectric power plant located in Uttarakhand, operated through its subsidiary, Alaknanda Hydro Power Company Limited. Following the approval, APL has received a Letter of Intent (LOI) from the Resolution Professional (RP) on the same day, September 7, 2026, at 9:35 AM. The successful implementation of this resolution plan is contingent upon the terms outlined in the LOI and the receipt of necessary approvals from the National Company Law Tribunal, Hyderabad, and potentially other regulatory bodies or courts as required by law.
Source: BSE
