Adani Power secures intent to acquire GVK Energy

Adani Power has received a Letter of Intent (LoI) to acquire GVK Energy, which operates a 330 MW hydroelectric power plant in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company Limited. The implementation of this resolution plan is contingent upon approvals from the National Company Law Tribunal in Hyderabad and other relevant regulatory authorities or courts.

The Competition Commission of India previously approved the acquisition proposal in May. Adani Power, currently India’s largest private thermal power producer with an installed capacity of 18,290 MW, also reported an improvement in its Environmental, Social, and Governance (ESG) performance score, rising to 66 for FY26.

Market analysts have noted Adani Power’s position in the Indian energy sector, highlighting its capacity to manage distressed plant turnarounds and its potential to benefit from the country’s expanding thermal capacity pipeline. The company maintains a significant presence across multiple Indian states, including Gujarat, Maharashtra, and Rajasthan.