CCI approves Adani Power acquisition of GVK Energy
The Competition Commission of India (CCI) has approved the acquisition of 100% share capital and control of GVK Energy Limited by Adani Power Limited under the corporate insolvency resolution process (CIRP) framework of the Insolvency and Bankruptcy Code, 2016.
The transaction involves the complete acquisition of GVK Energy Limited, a subsidiary of GVK Power and Infrastructure Limited. Through its subsidiary, Alaknanda Hydro Power Company Limited (AHPL), the company operates a 330 MW hydroelectric power project in Srinagar, Uttarakhand. GVK Energy also provides operation and maintenance services to AHPL.
Adani Power currently operates thermal power plants across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu. The company also operates a 40 MW solar power plant in Gujarat.
The acquisition marks Adani Power’s entry into the hydropower segment through the insolvency route, adding a 330 MW hydro asset to its predominantly thermal generation portfolio.
The deal follows the withdrawal of Purvah Green, a company linked to the RP Sanjiv Goenka Group, which had initially emerged as the highest bidder with a resolution plan worth Rs 5,750 crore. Purvah Green later withdrew its proposal citing uncertainties linked to the Gulf conflict. Adani Power had submitted the second-highest resolution plan valued at Rs 5,725 crore. GVK Energy was admitted into corporate insolvency proceedings in May 2025.
