Startup Story Team
Adani Power has taken a bold stride in its expansion strategy by successfully acquiring the 600 MW Vidarbha Industries Power Ltd (VIPL) coal-fired power plant for ₹4,000 crore. This acquisition, completed through the NCLT-approved resolution plan, solidifies Adani Power’s position as India’s largest private thermal power producer and forms a key part of its plan to scale capacity aggressively.
Acquisition Details:
On June 18, 2025, the Mumbai bench of the National Company Law Tribunal (NCLT) approved Adani Power’s resolution plan under the Insolvency and Bankruptcy Code. Adani then completed the transaction on July 7, 2025, investing ₹4,000 crore to take full control of VIPL-a 2×300 MW domestic coal-fired power plant situated in Butibori, Nagpur district, Maharashtra.
Boost to Generation Capacity:
With this acquisition, Adani Power’s operational capacity now reaches 18,150 MW. The company has communicated its ambitious goal of scaling total capacity to approximately 30,670 MW by financial year 2029–30 through a mix of greenfield and brownfield projects.
Ongoing Expansion Pipeline:
Adani Power is advancing several large-scale thermal projects:
- Six brownfield Ultra‑Supercritical Thermal Power Plants (USCTPP) of 1,600 MW each at existing sites:
· Singrauli‑Mahan (MP), Raipur, Raigarh, Korba (Chhattisgarh), Kawai (Rajasthan)
· One greenfield USCTPP at Mirzapur, Uttar Pradesh (1,600 MW)
· Revival of a previously acquired 1,320 MW supercritical plant at Korba.
Strategic Importance:
According to CEO S. B. Khyalia, the VIPL acquisition marks a “key milestone” in Adani Power’s broader strategy to revive stressed power assets and extract operational value. Integrating the Butibori plant into Adani’s expansive generation network enhances reliability, economies of scale, and proximity to coal supply and demand centers in the region.
Contribution to India’s Energy Goals:
Adani Group Chairman Gautam Adani recently highlighted that Adani Power generated over 100 billion units of electricity in FY 2025-the highest by any private player in India-reinforcing its vital role in the national power landscape. The addition of VIPL aligns closely with India’s vision of “Electricity for All”, supporting energy security, affordable base‑load generation, and sustainable growth.
Financial Highlights:
In FY 2025, Adani Power reported consolidated revenues of ₹2,71,664 crore (a 7% year-on-year increase), EBITDA of ₹89,806 crore, and maintained a healthy net debt-to-EBITDA ratio of 2.6x. The VIPL deal adds to this strong financial track as the company continues to invest strategically.
