Veeam: Module Snapshot poweron failed. Unable to retrieve the current working directory

After performing an Instant Recovery you might get the following error when the VM is trying to power on:

After a quick search on the Veeam Forums I found the following topic: http://www.veeam.com/forums/ about the same issue. In this topic I found the following solution to this issue:

Well, finally i get the issue fixed. I think it could be considered a bug. Let me explain.
If i set “F:\” as a vPower NFS destination, the error shows up. But if i set “F:\any_directory”, then all runs perfect!.
Well i write this here to help anybody with the same issue.

So vPowerNFS cannot be pointed directly to the drive letter of a partition. To change this setting you can use registry editor and your mouse, but you can also run the following Powershell script to change this setting:

$vPowerNFSDir = "D:\vPowerNFS\"

if((Test-Path $vPowerNFSDir) -eq $false){
    New-Item $vPowerNFSDir -type directory
}

If((Get-ItemProperty "HKLM:\Software\VeeaM\Veeam Backup and Replication" -name "NFSDefaultRootPath").NFSDefaultRootPath -ne $vPowerNFSDir){
    Set-ItemProperty "HKLM:\Software\VeeaM\Veeam Backup and Replication" -name "NFSDefaultRootPath" -value $vPowerNFSDir
}

if((Get-Service -DisplayName "Veeam Backup Service").Status -eq "Running"){
    Restart-Service -displayname "Veeam Backup Service"
}

if((Get-Service -DisplayName "Veeam vPower NFS Service").Status -eq "Running"){
    Restart-Service -displayname "Veeam vPower NFS Service"
}

The only thing you have to change in this script is the $vPowerNFSDir variable to the correct location of your Veeam Backup & Recovery Server. This script will check if the folder exists, If this is not the case it will create the folder. The next step is to check the Registry key for the correct location. If this is not the case the script will change the Registry for you. The last step is to restart the Veeam Backup Service and the Veeam vPower NFS Service.