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Adani Power to acquire GVK Energy
Source GVK Energy (opens in a new tab)Economic Times (opens in a new tab)CCI Announcement (opens in a new tab)
The Competition Commission of India (CCI) has approved the acquisition of GVK Energy by Adani Power. The transaction involves the acquisition of 100% share capital and control of GVK Energy as part of a corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016.GVK Energy operates a 330 MW hydroelectric power project in Srinagar, Uttarakhand, through its subsidiary AHPL. Adani Power plans to integrate the entity into its existing operations as a private thermal power producer with plants located across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, as well as a 40 MW solar power plant in Gujarat.
Between Nov 2010 and Dec 2010, GVK Energy had attracted about USD 337 M from 3i, Actis, GIC.For FY25, GVK Energy had reported about INR 28 Cr in Operating Income and about INR 13 Cr in PAT.