Latest news with #USCTPP
Yahoo
10-07-2025
- Business
- Yahoo
Adani Power completes $466m Vidarbha Power acquisition
India's Adani Power has completed the acquisition of Vidarbha Industries Power Limited (VIPL) for an aggregate consideration of Rs40bn ($466m). Vidarbha is a two-times-300MW coal-fired power plant situated in Butibori, in the Nagpur district of Maharashtra. The company was going through a corporate insolvency resolution process under the Insolvency and Bankruptcy Code before the acquisition. In June 2025, the Mumbai bench of the National Company Law Tribunal approved Adani Power's resolution plan, which was implemented in early July. The acquisition strengthens Adani's portfolio, increasing the company's operating capacity to 18,150MW. Adani Power CEO SB Khyalia stated: 'The acquisition of VIPL is a key milestone in Adani Power's strategy to unlock value through the turnaround of stressed assets. 'As we continue expanding our portfolio, we remain committed to supporting India's vision of electricity for all by delivering reliable, affordable base-load power that fuels the country's sustainable growth.' Adani Power is also expanding its base load power generation portfolio through a combination of brownfield and greenfield projects. Six brownfield ultra-supercritical power plants (USCTPP) with a capacity of 1,600MW each are currently under construction at existing locations: Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh and Korba in Chhattisgarh, and Kawai in Rajasthan. A 1,600MW greenfield USCTPP is planned at Mirzapur in Uttar Pradesh. APL is also undertaking construction on a previously acquired supercritical power plant in Korba with a planned output of 1,320MW. These developments position APL as India's largest private base load power generation entity with an operational capacity of more than 30GW by 2030. In June 2025, Adani Energy Solutions Limited (AESL) obtained a Rs16.6bn ($194.2m) interstate transmission project in Maharashtra, India. This initiative will be overseen by the newly established special-purpose vehicle, WRNES Talegaon Power Transmission. "Adani Power completes $466m Vidarbha Power acquisition" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
India.com
10-07-2025
- Business
- India.com
Masterstroke by Gautam Adani, acquires Reliance Power's former subsidiary for massive Rs 40000000000, stock sees rise of…, Adani Power now plans to…
Gautam Adani (File) New Delhi: In a major development, the shares of Adani Power rose nearly 3 percent in opening trade on Tuesday. This comes after Adani Group's power arm managed to successfully complete the acquisition and implementation of the resolution plan of Vidarbha Industries Power Ltd (VIPL). According to the company, the acquisition was completed for Rs 4000 crore. It is important to note that the acquired asset, a 2×300 MW domestic coal-based power plant, is located in Butibori, Nagpur district, Maharashtra. Adani Power shares rose by as much as 2.56% to Rs 612 on the BSE, while its market capitalisation climbed to Rs 2.35 lakh crore. The Adani Group stock opened higher at Rs 603 against the previous closing price of Rs 596.70 apiece. 'The acquisition of VIPL marks a key milestone in our strategy to unlock value through the turnaround of stressed assets. As we expand our portfolio, we remain committed to India's vision of 'Electricity for All' by delivering reliable and affordable base-load power to support sustainable economic growth,' said S.B. Khyalia, CEO, Adani Power. Vidarbha Industries Power Limited: Vidarbha Industries Power is a former subsidiary of Reliance Power The company was undergoing the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18, 2025, the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Adani Power's resolution plan The plan was subsequently implemented on July 7, 2025. Reliance Power, controlled by Anil Ambani, had exited VIPL after pledging all its shares to CFM Asset Reconstruction Private Limited (CFM ARC), an asset reconstruction company Here are some of the key details: Adani Power's operational capacity rises to 18,150 MW after the acquisition. The company has released a statement stating that they are aggressively pursuing further expansion through both brownfield and greenfield ultra-supercritical thermal power projects The Adani Group company is currently constructing six brownfield ultra-supercritical power plants (USCTPP) of 1,600 MW each at its existing locations. The locations are Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh The Adani group is also reviving the construction of a 1,320 MW supercritical power plant at Korba that it had acquired earlier. With this development, Adani Power is set to solidify its position as India's largest private base load power generation company, aiming for an operational capacity of 30,670 MW by 2030, the company stated.
Hans India
09-07-2025
- Business
- Hans India
Adani Power complete Rs 4000-cr deal for VIPL
New Delhi: Adani Power Ltd on Tuesday announced the completion of its acquisition of the 600-megawatt (MW) Vidarbha Industries Power Ltd through the insolvency route for an aggregate consideration of Rs4,000 crore. On June 18, 2025, the Mumbai Bench of the National Company Law Tribunal (NCLT) approved its resolution plan for Vidarbha Industries Power Ltd (VIPL), Adani Power Ltd (APL) said in a statement. SB Khyalia, Chief Executive Officer, Adani Power Ltd, said: 'As we continue expanding our portfolio, we remain committed to supporting India's vision of 'Electricity for All' by delivering reliable, affordable base-load power that fuels the country's sustainable growth.' Subsequently, the plan was successfully implemented on July 7, 2025, taking APL's operating capacity to 18,150 MW with this acquisition. VIPL is a 600 MW domestic coal-fired power plant (2×300 MW units) located in Butibori, Nagpur district, Maharashtra. APL has successfully completed the acquisition and implemented the resolution plan for VIPL for an aggregate consideration of Rs4,000 crore. The company further said it's on track to achieve its target of 30,670 MW capacity by is further undertaking the expansion of its base-load power generation portfolio through a mix of brownfield and greenfield projects. The company is currently constructing six brownfield Ultra Supercritical Power Thermal Plants (USCTPP) of 1,600 MW each at its existing locations in Singrauli-Mahan (Madhya Pradesh), Raipur, Raigarh, and Korba (Chhattisgarh), and Kawai (Rajasthan), in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh. Additionally, it is setting up a 1,600 MW greenfield USCTPP in Mirzapur, Uttar Pradesh. Apart from this, it is also reviving the construction of a 1,320 MW Supercritical power plant at Korba that it had acquired previously.
United News of India
08-07-2025
- Business
- United News of India
Adani Power acquires 600-MW VIPL Thermal Plant for Rs 4,000 Crore
Mumbai, July 8 (UNI) Adani Power Ltd officially announced here today that it has acquired the 600-MW coal-fired thermal power plant of Vidarbha Industries Power Ltd (VIPL) located at Butibori, in Maharashtra's Nagpur district, for Rs 4,000 crore, through the insolvency route. The development came after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved a resolution plan for VIPL on June 18, according to the statement. After this acquisition, Adani Power Ltd has an operating capacity of 18,150 MW. The company plans to achieve its target of 30,670 MW capacity by 2029-30 and expand its base-load power generation portfolio through a mix of brownfield and greenfield projects. The company is presently engaged in constructing six brownfield ultra supercritical thermal power plants (USCTPP) of 1,600 MW each, at its existing locations in Singrauli-Mahan (Madhya Pradesh), Raipur, Raigarh and Korba (Chhattisgarh), as well as Kawai in Rajasthan, in addition to another 1,600 MW greenfield USCTPP at Mirzapur in Uttar Pradesh. The company is also setting up a 1,600-MW greenfield USCTPP in Mirzapur, Uttar Pradesh besides a 1,320 MW supercritical power plant at Korba, which it had acquired earlier. "As we continue expanding our portfolio, we remain committed to supporting India's vision of 'Electricity for All' by delivering reliable, affordable base-load power that fuels the country's sustainable growth," Adani Power Ltd CEO SB Khyalia said. UNI XC BM
Indian Express
08-07-2025
- Business
- Indian Express
Adani Power acquires 600 MW Vidarbha plant for Rs 4,000 crore, eyes major expansion by 2030
Adani Power Ltd (APL), India's largest private thermal power producer, on Tuesday announced the successful completion of the acquisition and implementation of the resolution plan for the 600 megawatt (MW) Vidarbha Industries Power Ltd (VIPL) for an aggregate consideration of Rs 4,000 crore. VIPL is a 2×300 MW domestic coal-fired power plant located in Butibori in Maharashtra's Nagpur district, Adani Power Ltd stated in a press release. The company was undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18, the Mumbai bench of the National Company Law Tribunal (NCLT) approved Adani Power's resolution plan, following which it was successfully implemented on July 7, the release said. APL now takes its operating capacity to 18,150 MW with this acquisition. APL is further undertaking the expansion of its base load power generation portfolio through a mix of brownfield and greenfield projects. It is currently constructing six brownfield ultra-supercritical power plants (USCTPP) of 1,600 MW each at its existing locations at Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur in Uttar Pradesh. Apart from this, it is also reviving the construction of a 1,320 MW supercritical power plant at Korba that it acquired previously. With this, APL will cement its position as India's largest private base load power generation company with an operational capacity of 30,670 MW by 2030. 'The acquisition of VIPL is a key milestone in Adani Power's strategy to unlock value through the turnaround of stressed assets. As we continue expanding our portfolio, we remain committed to supporting India's vision of 'Electricity for All' by delivering reliable, affordable base-load power that fuels the country's sustainable growth,' said S B Khyalia, Chief Executive Officer, Adani Power Ltd.
