Adani Power Share Price Surges; Receives LOI for GVK Energy's 330 MW Hydro Plant

Adani Power Limited has received a Letter of Intent (LOI) from the Resolution Professional of GVK Energy Limited after its resolution plan was approved by the company’s Committee of Creditors (CoC), as per an exchange filing dated September 7, 2026. 

330 MW Hydro Plant in Uttarakhand 

GVK Energy owns and operates a 330 MW hydroelectric power plant in Uttarakhand. The plant is operated through its subsidiary, Alaknanda Hydro Power Company Limited. 

The acquisition is being pursued through the insolvency resolution process of GVK Energy. The company is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. 

Resolution Plan Approved by Creditors 

The Committee of Creditors has approved the resolution plan submitted by Adani Power for GVK Energy. Following this approval, the Resolution Professional issued the LOI to Adani Power. 

NCLT Approval Required 

The resolution plan is subject to the terms of the LOI and the approvals required under applicable laws. The filing said approval is required from the National Company Law Tribunal (NCLT), Hyderabad. 

Depending on the requirements of the transaction, approvals may also be needed from other regulatory authorities, courts or tribunals. 

Acquisition Yet to Be Implemented 

The receipt of the LOI does not complete the resolution process. Implementation of the plan will depend on the required approvals and compliance with the terms of the LOI. 

The company’s filing did not provide details of the financial value of the proposed acquisition. It also did not disclose any further transaction terms beyond those set out in the filing. 

Read More: HFCL Share Price Gains Over 266% YTD: Here's Why?! 

Adani Power Share Price Performance  

As of September 8, 2026, 12:09 pm, Adani Power share price was trading at ₹207.55, up 1.50% from the previous closing price. 

Conclusion 

Adani Power has received the LOI after its resolution plan for GVK Energy was approved by the CoC. The plan covers the company that operates the 330 MW hydroelectric plant in Uttarakhand and remains subject to the required approvals. 

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