JSW, Vedanta, Adani among companies keen to buy GVK Energy’s asset

JSW Energy Ltd., Adani Power Ltd. and Vedanta Ltd. are among more than a dozen companies that have expressed interest in acquiring GVK Energy’s 330 MW Alaknanda hydro power project in Uttarakhand, according to people familiar with the matter.

In May, insolvency proceedings were permitted against GVK Group company GVK Energy, which has five subsidiaries and owes lenders Rs 11,187 crore in direct and in direct exposure. Of these five subsidiaries, Alaknanda Hydro Power and GVK Coal (Tokisud) Company Pvt. Ltd. remain to be resolved.