Adani Power has been declared the successful resolution applicant for GVK Energy after the Committee of Creditors approved its resolution plan, subject to NCLT and other regulatory approvals.
Ahmedabad : Adani Power Limited has emerged as the successful resolution applicant for GVK Energy Limited (GVKEL) after the Committee of Creditors (CoC) approved its resolution plan under the Corporate Insolvency Resolution Process (CIRP).
The company received the Letter of Intent (LOI) from the Resolution Professional on September 7, 2026, at 9:35 a.m., formally marking Adani Power’s selection under the insolvency resolution process.
GVK Energy Owns 330 MW Hydro Power Plant
GVK Energy Limited owns and operates a 330 MW hydroelectric power plant in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company Limited.
The acquisition would give Adani Power an entry into the assets of GVK Energy through the insolvency resolution mechanism. However, the transaction is not yet complete and remains subject to several statutory and regulatory requirements.
Acquisition Subject to NCLT Approval
The implementation of Adani Power’s resolution plan will be carried out in accordance with the terms and conditions of the Letter of Intent.
The plan is also subject to obtaining the requisite approval from the National Company Law Tribunal (NCLT), Hyderabad, along with approvals from other applicable regulatory authorities, courts or tribunals, wherever required.
Until these approvals are received and the resolution process is completed in accordance with applicable law, the acquisition should not be viewed as fully concluded.
Key Details of the Deal
- Successful Resolution Applicant: Adani Power Limited
- Target Company: GVK Energy Limited (GVKEL)
- Resolution Process: Corporate Insolvency Resolution Process (CIRP)
- Resolution Plan: Approved by the Committee of Creditors
- Letter of Intent: Received on September 7, 2026
- Time of LOI: 9:35 a.m.
- Hydroelectric Capacity: 330 MW
- Location: Uttarakhand
- Plant Operator: Alaknanda Hydro Power Company Limited
- Next Step: NCLT, regulatory and other applicable approvals
What This Means for Adani Power
The proposed acquisition could strengthen Adani Power’s presence in the renewable and hydroelectric power segment, while bringing GVK Energy’s 330 MW hydroelectric asset under the resolution framework led by the company.
The immediate focus will now be on completing the remaining approval and implementation process in accordance with the LOI and applicable regulatory requirements.
