Latest news with #VIPL
India.com
3 days ago
- Business
- India.com
Masterstroke by Gautam Adani, revives THIS power plant after acquiring it from..., Power Supply to grid begins after…
Gautam Adani set to buy one more company, to pay Rs 125000000000 crore for THIS bankrupt business group, company is... New Delhi: In a major development, Gautam Adani-led Adani Power has made the long-dead 600 MW Butibori power plant active. This comes days after the company acquired it from Reliance's Vidarbha Industries Power Limited (VIPL) for Rs 4,000 crore in July 2025. It is important to note that the 2×300 MW plant has been shut since 2019, its systems rusted and licenses expired. After VIPL's financial collapse and admission to NCLT in 2023, hopes for the plant's revival seemed bleak. However, Adani's swift intervention has taken the power sector by surprise. When a crack revival team was dispatched to Butibori from across Adani's power units, they discovered corroded machinery, deteriorated systems, and a complete absence of experienced staff, most of whom had left during the plant's five-year shutdown. Despite all these, the engineers from the Adani Group worked relentlessly and made the plant active. According to the reports, critical spares were flown in, specialized repairs carried out, and a flurry of activity ensured that all licenses, permits, and statutory approvals were renewed in record time. The plant is now feeding power into the national grid, though not yet at full capacity. Experts are of the opinion that the heavy lifting isn't over yet. 'Decades-old systems need modern upgrades. The focus now shifts to automation and boosting efficiency,' said a source familiar with the operations to The Live Nagpur.
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.
Time of India
08-07-2025
- Business
- Time of India
Adani buys out Ambani's power plant at Butibori
Nagpur: Adani Power has finally taken over Anil Ambani-led Reliance Group's power plant at Butibori for Rs4,000 crore. The acquisition was formally completed on Tuesday. Originally built for captive supply of cheap power to industries in Butibori and nearby areas, the power plant ended up catering to Mumbai before it ran into trouble. Reliance company, Vidarbha Industries Power Limited (VIPL), had set up a 600MW (2 units of 300 MW) capacity generation plant at Butibori over a decade ago. The plans for a group captive power plant (GCPP) for local industries did not take off, and later the status was changed to an independent power plant (IPP) and it began supplying to Mumbai. The buyout surpasses Adani's power generation capacity in the region to that of Koradi and Khaparkheda power stations of state-owned Mahagenco. Adani Group already operates a 3,300 MW power plant at Tiroda in Gondia. With the VIPL takeover, its capacity stands at 3,900 MW in Vidarbha. VIPL was undergoing a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18 this year, the Bombay bench of National Company Law Tribunal (NCLT) approved Adani Power's resolution plan. Subsequently, the plan was successfully implemented on July 7, said a note shared by Adani Group. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Glicemia acima de 100? Ele usou isso Saúde Nacional Undo When the plant was operational, Reliance Group had secured power distribution rights for part of Mumbai and electricity generated at Nagpur's VIPL plant went to the state capital. Eventually, Adani Group took over distribution rights and did not continue the power purchase agreement (PPA) with VIPL after its tenure ended. Industrialists in the Butibori Manufacturers Association (BMA) recall the day the foundation was laid. "There were frequent interactions with the company's officials for local units joining the GCPP. However, plans did not take off despite big hopes," says Puneet Mahajan from BMA. Sources said overall troubles in the group also impacted VIPL operations as coal supplies through an assured linkage were also a bottleneck. Meanwhile, sources in Adani Group said further plans on supply of power generated from the VIPL plant are yet to be drawn. Nitin Lonkar, former BMA secretary, said local industrialists hope that the takeover by Adani Group may revive the plans.
