Adani Power Ltd. announced Tuesday it will transfer the rights and obligations under a contract to supply 2,500 megawatts of round-the-clock renewable power to Maharashtra to a group company. The power producer has agreed to transfer the Letter of Award received from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to Powerpulse Trading Solutions Ltd., a wholly owned subsidiary of Adani Energy Solutions Ltd. MSEDCL awarded the contract on April 2, 2026, calling for the supply of 2,500 MW of renewable power around the clock for 25 years from the scheduled start of supply. The agreement allows power to be sourced from a mix of generation assets, while requiring the supplier to meet minimum renewable-power obligations.
Adani Power has achieved a significant milestone with its ₹5,725-crore resolution plan for GVK Energy Ltd being approved by creditors, marking its eighth acquisition through the corporate insolvency resolution process (CIRP). The company was declared the Successful Resolution Applicant for acquiring GVK Energy Limited (GVKEL), which is undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. GVKEL owns and operates a 330 MW hydroelectric power plant in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company Limited. Following the approval, Adani Power received a Letter of Intent from the Resolution Professional on September 7, 2026, with implementation subject to necessary approvals from the National Company Law Tribunal, Hyderabad, and other relevant regulatory authorities.
The GVKEL acquisition strengthens Adani Power's generation portfolio by adding 330 MW of hydroelectric capacity in Uttarakhand, providing greater diversification beyond its largely thermal-based portfolio. The company's operating capacity, including inorganic additions, stands at around 18,330 MW, with 3,200 MW under development and an overall target capacity of approximately 42,050 MW. Revenue from Operations increased by 34% YoY, from ₹14,109 crore in Q1 FY26 to ₹18,902 crore in Q1 FY27, while Net Profit increased by 47.3% YoY, from ₹3,305 crore in Q1 FY26 to ₹4,867 crore in Q1 FY27. The company maintains strong financial metrics with ROCE of 17.2% and ROE of 21.1%, and a debt-to-equity ratio of 0.84, indicating moderate financial leverage.
Adani Power shares are in focus following the company's resolution plan approval for GVK Energy Ltd, with multiple analysts expressing positive sentiment. Bernstein's Nikhil Nigania suggested 'Outperform' on the stock with a target of ₹220, while Antique Stock Broking's Ishan Verma suggested 'Buy' with a target of ₹282. The 12-month Bloomberg consensus target stands at ₹252.30, suggesting 23.40% potential upside for the stock. MOFSL recently initiated coverage with a 'Buy' rating and target of ₹250 per share, citing the company's ambitious growth plans, solid execution track record, and limited competition in the thermal segment. The company maintains its position as India's largest private thermal power producer with 18GW capacity, accounting for 24% of private and 8% of aggregate coal and lignite-based capacity in India.
Adani Power shares gained after the company emerged as the successful resolution applicant for GVK Energy, rising up to 2.22% with a high of ₹209.30 compared to the previous close of ₹204.75. With a market capitalisation of ₹4,015 crore, the stock performance reflects investor confidence in the company's strategic expansion through distressed asset acquisitions. The company has strategically used distressed asset acquisitions as a key expansion strategy, with a third of its 18.3-gigawatt operational capacity now coming from companies acquired under the Insolvency and Bankruptcy Code, 2016. This latest acquisition will provide access to 330MW hydropower assets, further strengthening the company's position as India's largest private thermal power producer.
