Adani Power purchases 24% of JP Power, thermal plant in Rs 4,193-crore deal

Adani Power officially announced here on Thursday that it has purchased a 24% stake in Jaiprakash Power Ventures Ltd (JPVL) and the 180 MW Churk thermal power plant in Uttar Pradesh for approximately Rs 2,993.6 crore, as part of a resolution plan approved by the NCLT for Jaiprakash Associates Ltd (JAL).

Additionally, Adani Power has also signed a business transfer agreement to acquire the Churk thermal power plant and associated assets, including JAL’s 11.49% stake in Prayagraj Power Generation Company Ltd, for Rs 1,200 crore, a company statement said.

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The total consideration amounts to Rs 4,193 crore, including the Rs 2,993.6 crore paid for the 24% stake in JVPL.

The Churk thermal power plant includes a 180 MW thermal power station in UP’s Sonbhadra district. This acquisition will increase Adani Power’s presence in the thermal energy sector.

The purchase is expected to increase Adani Power’s generation capacity, broaden its presence in the thermal power sector, and provide strategic access to Jaiprakash Power Ventures Ltd’s (JPVL) diverse energy and mining resources.

This transaction is part of a wider resolution plan led by the Adani Group for financially troubled Jaiprakash Associates Ltd (JAL).

JPVL manages thermal and hydroelectric facilities with a combined generation capacity of 2,220 MW. Additionally, the company is involved in coal mining, sand mining, and cement grinding.

Earlier this year, the National Company Law Tribunal (NCLT) approved the Adani Group’s Rs 14,535 crore resolution plan for Jaiprakash Associates Ltd, after majority support from JAL’s lenders, who turned down a rival higher offer from Vedanta.

Adani Power has announced that the acquisitions will be finalised through cash transactions and are anticipated to conclude on the “effective date” specified in the approved resolution plan, which is set to occur within 90 days after NCLT approval granted on March 17, 2026.

The company also stated that the Competition Commission of India (CCI) approved the transaction in August 2025 and that the National Company Law Appellate Tribunal (NCLAT) had reaffirmed the resolution plan in May 2026.

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.