AHMEDABAD: Adani Power Ltd, the power arm of the ports-to-power conglomerate, Adani Group, on Tuesday announced that it completed the acquisition of Vidarbha Industries Power Limited (VIPL). VIPL is a 600 megawatt (MW) coal-fired power plant located in Nagpur, for a total consideration of Rs 4,000 crore. With this addition, Adani Power’s operational capacity rose to 18,150 MW.The transaction marks the successful implementation of Adani Power’s resolution plan for VIPL, which was undergoing insolvency under the Insolvency and Bankruptcy Code (IBC). The National Company Law Tribunal’s (NCLT) Mumbai Bench approved the resolution plan on June 18. The process concluded on July 7, with Adani Power formally taking over the 2×300 MW plant in Butibori.The company is now accelerating towards its ambitious target of reaching 30,670 MW by 2029–30, through a mix of brownfield and greenfield projects. The company is currently constructing six brownfield ultra-supercritical thermal power plants (USCTPP) of 1,600 MW each across Madhya Pradesh, Chhattisgarh, and Rajasthan, and a greenfield 1,600 MW USCTPP in Mirzapur, Uttar Pradesh. In addition, it is reviving construction of a previously acquired 1,320 MW supercritical plant at Korba, Chhattisgarh.“The acquisition of VIPL is a key milestone in Adani Power’s strategy to unlock value through the turnaround of stressed assets. As we continue expanding our portfolio, we remain committed to supporting India’s vision of ‘Electricity for All’ by delivering reliable, affordable base-load power that fuels the country’s sustainable growth,” said SB Khyalia, CEO, Adani Power Limited.With this expansion, Adani Power will cement its position as the country’s largest private base-load power generation player.