Ahmedabad, 26 August: Adani Energy Solutions Ltd (AESL) has won a ₹4,700 crore transmission project to evacuate renewable and stored energy generated in Karnataka to major demand centers in Maharashtra. Housed under the Special Purpose Vehicle (SPV) Satara Power Transmission Ltd, the project has a 36-month deadline, adding 562 circuit kilometers (ckm) of transmission lines and 9,000 MVA of transformation capacity to AESL’s portfolio, taking the total to 29,739 ckm and 1,43,425 MVA transformation capacity. With this, AESL’s total transmission orderbook now stands at ₹85,000 crore.
Post completion, the project will help support energy supply to Satara, Pune and the Mumbai Metropolitan Region (MMR), with the company also establishing a 765/400 kV substation in Satara and augmenting the Kolhapur pooling station along with other associated transmission infrastructure.
“Pumped storage projects are emerging as a critical enabler of India’s clean energy transition by providing the flexibility and reliability required to integrate large-scale renewable energy into the grid. The Satara transmission project will create a vital transmission backbone to supports both renewable energy evacuation and energy storage deployment, strengthening power flows between Southern and Western India. AESL remains committed to building future-ready transmission infrastructure that enables renewable energy growth, enhances grid stability and supports India’s long-term decarbonisation goals,” Mr. Kandarp Patel, CEO, Adani Energy Solutions Ltd. said in a press release.
As one of India’s largest power generation companies, AESL leads the sector by building specialised transmission infrastructure. It remains at the forefront of the government’s aim of installing 500 GW of non fossil energy capacity by 2030, but faces challenges in raising high capital expenditure for the same.
Last month, AESL raised ₹3,500 crore via QIP to repay its debt and finance capital expenditure. Its shares have risen 104% in one year, as investors continue to keep faith in the company despite the high 194% debt to equity ratio.
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