Adani Power Sparks Growth: Secures VIPL Acquisition Approval

Adani Power has secured approval from the Committee of Creditors (COC) to acquire Vidarbha Industries Power Limited (VIPL), which is currently undergoing insolvency proceedings.

VIPL owns and operates a 600 MW (2x300 MW) thermal power plant located in Butibori, Nagpur, Maharashtra. The finalization of Adani Power's resolution plan is contingent upon the terms set out in the Letter of Intent (LoI) and the necessary regulatory approvals, including those from the National Company Law Tribunal (NCLT) in Mumbai.

Adani Power received the LoI from the Resolution Professional on February 24, 2025.

News by Rahul Yelligetti.