Adani Power has received approval from the Committee of Creditors (COC) to acquire Vidarbha Industries Power (VIPL), which is undergoing insolvency proceedings.
VIPL operates a 600 MW (2x300 MW) thermal power plant in Butibori, Nagpur, Maharashtra. The implementation of Adani Power's resolution plan is subject to the terms outlined in the letter of intent (LoI) and necessary approvals, including from the National Company Law Tribunal (NCLT) in Mumbai.
Adani Power received the LoI from the Resolution Professional on 24 February, 2025.