Adani Power Receives LoI to Acquire Vidarbha Industries Power

Vidarbha Industries Power Limited, which is a subsidiary of Anil Ambani owned Reliance Power Ltd. has been undergoing insolvency proceedings.

The Committee of Creditors of Vidarbha Industries Power Limited has approved Adani Power Limited’s resolution plan which was submitted under the corporate insolvency resolution process. Thus Adani Power Limited received a Letter of Intent (LoI) for acquiring Vidarbha Industries Power Ltd. which is currently undergoing insolvency proceedings. However, the financial details of this acquisition still remain undisclosed.

Vidarbha Industries Power Ltd. was incorporated in 2005. The company owns and operates a 600 MW thermal power plant located in Maharashtra Industrial Development Corporation (MIDC) Industrial Area at Butibori in Nagpur.

This acquisition of Vidarbha Industries Power will further strengthen Adani Power’s presence in the thermal power generation sector.

Apart from the acquisition of Vidarbha industries, another recent acquisition by Adani Power was that of Lanco Amarkantak Power Ltd. (LAPL) in August 2024.