Adani Power to acquire Vidarbha Industries Power

Adani Power (ADANIPOWER) announced today that it has received a Letter of Intent (LOI) from the Resolution Professional (RP) of Vidarbha Industries Power Limited (VIPL) on February 24, 2025. VIPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The Committee of Creditors (COC) has approved Adani Power's resolution plan. VIPL owns and operates a 2x300 MW (600 MW) thermal power plant located in MIDC Industrial Area, Butibori, Nagpur, Maharashtra. The implementation of the resolution plan remains subject to the terms of the LOI and requisite approvals from regulatory authorities.