New Delhi, May 21(CXO Media): Adani Power is betting bigger on India’s power sector with a Rs 4,000 crore deal tied to the insolvency resolution of Jaiprakash Associates.
The company said on May 21 that it will acquire a 24% stake in Jaiprakash Power Ventures (JP Power) from Jaiprakash Associates for Rs 2,993.59 crore. Alongside the stake purchase, Adani Power will also buy a 180 MW thermal power plant in Churk, Uttar Pradesh, for Rs 1,200 crore as part of the National Company Law Tribunal (NCLT)-approved resolution plan.
What Adani Power Is Buying
The Churk thermal plant deal includes related operational assets and an 11.49% stake in Prayagraj Power Generation Company Ltd. The acquisition is expected to close within 90 days from the NCLT approval granted on March 17, 2026. The resolution plan was later upheld by the National Company Law Appellate Tribunal (NCLAT) on May 4.
Why This Deal Matters
The acquisition gives Adani Power a stronger foothold in thermal and hydro power generation at a time when electricity demand remains high. JP Power has a total installed generation capacity of 2,200 MW across three plants and also owns cement grinding and coal mining assets.
For Adani Power, the move signals continued expansion through stressed asset acquisitions, a strategy the group has used in the past to strengthen infrastructure businesses. Investors are also likely to watch how the acquisition supports long-term capacity growth. Adani Power shares closed 0.6% higher at Rs 220.4 on Wednesday and have gained nearly 50% so far in 2026.
