Indian thermal power generation company Adani Power has completed the acquisition of Vidarbha Industries Power Ltd. (VIPL) for INR 4,000 crore (~ $480 million). The deal adds a 600 MW domestic coal-fired power plant located in Butibori, Nagpur district, Maharashtra, to its portfolio. Following the acquisition, VIPL became a wholly owned subsidiary of Adani Power. The company stated that the acquisition forms part of its strategy to restructure stressed assets under the Insolvency and Bankruptcy Code. With the inclusion of VIPL, Adani Power’s total operating capacity has increased to 18,150 MW. The company has set a target to reach 30,670 MW by the end of FY 2029–30. The transaction concluded after VIPL underwent a Corporate Insolvency Resolution Process prior to the acquisition.