Adani Power to acquire 24% stake in JP Power, other thermal asset for over ₹4,000 crore

Adani Power Ltd., on Thursday, May 21, announced that it has entered into definitive agreements with Jaiprakash Associates as part of the implementation of the NCLT approved resolution plan.Adani Power will acquire 24 stake in Jaiprakash Power Ventures, held by Jaiprakash Associates for a cash consideration of ₹2,993.59 crore.

The company will also acquire a 180 MW Thermal Power plant located in Uttar Pradesh’s Churk, along with its related assets, for a cash consideration of ₹1,200 crore. The assets include a 11.49% stake in Prayagraj Power Generation Co. Ltd.
The transaction is expected to be finalized on the ‘Effective Date’ as per the approved resolution plan, which is stipulated to be no later than 90 days from the NCLT approval date of March 17, 2026.JP Power has an aggregate capacity of 2,200 MW across three plants and also owns cement grinding and coal mining operations.

Through these transactions, Adani Power aims to strengthen its operational footprint in the thermal and hydro power generation space.

The transaction is part of the broader resolution plan that was upheld by the National Company Law Appellate Tribunal (NCLAT) on May 4, following the NCLT approval in March.

Shares of Adani Power ended 0.6% higher on Wednesday at ₹220.4. The stock is up 8.6% in the last one month, and has gained nearly 50% so far in 2026.