Adani Power Signs Agreements to Acquire JPVL Stake and Churk Power Assets

New Delhi: Adani Power Limited has entered into definitive agreements to acquire key power assets and investments of Jaiprakash Associates Limited (JAL) as part of the implementation of the approved resolution plan under insolvency proceedings.

The development was disclosed by Adani Power in a regulatory filing dated May 21, 2026, under Regulation 30 of the SEBI Listing Regulations.

Key Acquisitions Under the Resolution Plan

As part of the approved resolution framework submitted by Adani Enterprises Limited (AEL), Adani Power has signed:

• A Share Purchase Agreement for acquiring 24% shareholding in Jaiprakash Power Ventures Limited (JPVL) held by JAL.

• A Business Transfer Agreement for acquisition of JAL’s 180 MW thermal power plant located at Churk in Uttar Pradesh, along with related assets.

• Acquisition of 11.49% stake in Prayagraj Power Generation Company Limited held by JAL.

The acquisitions are expected to be completed on the “Effective Date” under the approved resolution plan.

Deal Value and Structure

According to the disclosure:

The transactions will be executed entirely through cash consideration.

Regulatory Approvals Already Secured

Adani Power stated that major regulatory approvals for the acquisition have already been obtained.

These include:

• Approval from the Competition Commission of India on August 26, 2025

• Approval of the resolution plan by the National Company Law Tribunal (NCLT), Allahabad Bench, on March 17, 2026

• Confirmation of the order by the National Company Law Appellate Tribunal (NCLAT) on May 4, 2026

The company noted that the acquisition is expected to close within 90 days from the NCLT approval date.

About Jaiprakash Power Ventures Limited

JPVL is primarily engaged in thermal and hydroelectric power generation along with cement grinding operations.

The company currently operates:

• Three power plants with a combined capacity of 2,220 MW

• A 2 MTPA cement grinding unit

JPVL Turnover Details

JPVL was incorporated on December 21, 1994, and operates primarily in India.

Strategic Expansion for Adani Power

The acquisition aligns with Adani Power’s strategy to expand its generation portfolio and strengthen its position in India’s power sector. By acquiring operational thermal assets and strategic stakes in power companies, the company aims to enhance generation capacity and long-term operational synergies.

The Churk power plant acquisition also adds to Adani Power’s thermal asset base in Uttar Pradesh, a key power demand region in northern India.

Adani Power stated that any further material developments regarding the acquisition will be disclosed in accordance with applicable regulatory requirements.