Adani Power Dives Into Hydropower with GVK Energy Acquisition

Adani Power has advanced its expansion into the renewable energy sector after being selected as the successful resolution applicant for GVK Energy, following the Committee of Creditors' (CoC) approval of its resolution plan.

The formal Letter of Intent (LoI) was issued by GVK Energy’s Resolution Professional on September 7, 2026. Through this acquisition, Adani Power targets 100 percent of GVK Energy's share capital and control, which includes ownership of the 330 MW Alaknanda hydropower project in Uttarakhand operated by its subsidiary, Alaknanda Hydro Power Company.

The Competition Commission of India (CCI) cleared the proposal earlier in May. Final implementation of the resolution plan remains contingent upon the terms of the LoI, along with mandatory clearances from the National Company Law Tribunal (NCLT) in Hyderabad and any other necessary regulatory bodies. The transaction marks a strategic addition of hydropower assets to Adani Power's predominantly thermal generation portfolio.

News by Rahul Yelligetti.