Market snapshot: Adani Power Limited has received a Letter of Intent to acquire GVK Energy Limited under its ongoing Corporate Insolvency Resolution Process. This development follows the Committee of Creditors endorsing Adani Power’s resolution plan. The transaction secures strategic hydro capacity for Adani Power, bolstering its clean energy expansion strategy.
Data Snapshot
- Adani Power submitted a resolution plan bid of ₹5,725 crore for GVK Energy.
- GVK Energy operates a 330 MW hydroelectric project in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company.
- Adani Power achieved a record consolidated net profit of ₹4,867 crore in Q1 FY27, representing a 47% year-on-year growth.
What’s Changed
- The acquisition…