Adani Power to acquire JAL power assets under NCLT-approved plan
Adani Power Limited has entered into definitive agreements with Jaiprakash Associates Limited to acquire select power assets and investments under the National Company Law Tribunal (NCLT)-approved resolution plan for JAL, according to a stock exchange filing.
The transaction includes the acquisition of a 24% stake in Jaiprakash Power Ventures Limited, a listed company engaged in thermal and hydro power generation, coal mining, sand mining and cement grinding. JPVL operates three power plants with a total installed capacity of 2,220 MW. Its portfolio also includes a 2 million tonnes per annum (MTPA) cement grinding unit and a 3.92 MTPA coal mine.
As part of the deal, Adani Power will also acquire the 180 MW thermal power plant located at Churk in Sonbhadra district, Uttar Pradesh. The acquisition further includes JAL’s 11.49% stake in Prayagraj Power Generation Company Limited and other related assets.
The acquisitions are being carried out under the resolution plan approved by the Allahabad bench of the NCLT at Prayagraj on March 17, 2026, along with a clarificatory order issued on May 8, 2026. The resolution plan was later upheld by the National Company Law Appellate Tribunal on May 4, 2026.
Adani Power said the target assets are aligned with its core business operations in the power generation sector. The Competition Commission of India had approved the transaction on August 26, 2025.
The company said the acquisitions are expected to be completed on the “Effective Date” under the approved resolution plan, which is scheduled no later than 90 days from March 17, 2026.
