Adani Power Supercharges Portfolio with VIPL Buyout, Hits 18,150 MW Milestone

Adani Power’s recent acquisition of Vidarbha Industries Power Limited (VIPL) marks another strategic leap in its ongoing expansion across India’s power sector. Approved by the National Company Law Tribunal (NCLT), the ₹4,000 crore deal is expected to close by 17 July 2025, allowing Adani to take over VIPL’s 600 MW thermal plant in Nagpur—a former Reliance Power asset burdened with ₹6,753 crore in liabilities.

This move not only boosts Adani Power’s total capacity to 18,150 MW but also underscores its broader strategy: scaling up through the revival of distressed infrastructure.

Over the past decade, Adani Power has emerged as a dominant force in thermal energy by acquiring and turning around financially ailing assets. These include the 1,200 MW Mahan Energen in Madhya Pradesh, the 1,370 MW Raipur Energen in Chhattisgarh, and Raigarh Energy Generation’s 600 MW unit.

In Tamil Nadu, it took over Coastal Energen’s 1,200 MW plant, later merged with Moxie Power. Earlier acquisitions like Udupi Power from Lanco and the Mumbai distribution business from Reliance Infrastructure illustrate a long-term commitment to consolidating fragmented capacity under one operational umbrella.

Together, these deals reflect a high-stakes consolidation trend reshaping India’s thermal power landscape—one where financially stressed assets become stepping stones for giants like Adani. As the country pushes to balance its energy needs with economic pragmatism, Adani Power’s acquisition playbook offers a revealing glimpse into the future of Indian energy infrastructure.