Project News Detail
| Project No : | 206529 |
|---|---|
| Project Title : | Adani Power diversifies into hydroelectric sector with GVK Energy acquisition |
| Company Name : | Private Company |
| Project Detail : | The Competition Commission of India (CCI) has approved the acquisition of 100 percent share capital and control of GVK Energy by Adani Power under the corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016. The approved transaction involves Adani Power, a thermal power producer operating across multiple states including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu. The company also operates a 40 MW solar power plant in Gujarat. GVK Energy, originally a subsidiary of GVK Power and Infrastructure, operates through its arm AHPL, which manages a 330 MW hydroelectric power project in Srinagar, Uttarakhand. The subsidiary is engaged in power generation, while GVK Energy also provides operation and maintenance services for the project. The acquisition is part of a resolution process under India’s insolvency framework aimed at reviving stressed assets in the power sector and consolidating operational control under a financially stronger entity. Officials said the approval ensures continuity of operations at the hydroelectric asset while strengthening capacity utilisation and sectoral stability. |
| Project Location : | Multi Location (Multi State) - Multi State - India |
| Project Estimation : | Refer Document |
| Status : | Announced |