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Adani Energy acquires Pune-III Transmission for Khavda project

India, News

Adani Energy Solutions Limited (AESL) acquired Pune-III Transmission Limited, a special purpose vehicle (SPV) for development of the Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7GW): Part D on November 19, 2024.  PFC Consulting Limited (PFCCL) served as the bid process coordinator (BPC) for selection of transmission service provider (TSP) for establishment of the project through tariff based competitive bidding (TBCB) mode process on…

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Adani Energy acquires Pune-III Transmission for Khavda Phase-IV project

India, News

On November 19, 2024, Adani Energy Solutions Limited (AESL) acquired Pune-III Transmission Limited, a special purpose vehicle (SPV) established for the development of the transmission system aimed at evacuating power from the potential renewable energy zone in the Khavda area of Gujarat under Phase-IV (7GW): Part D.  PFC Consulting Limited (PFCCL) served as the bid process coordinator (BPC) for selecting the transmission service provider (TSP) through a tariff-based competitive bidding (TBCB) process on a build,…

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Adani Energy Solutions reports 172% surge in net profit for Q2 FY2024

India, News

Adani Energy Solutions Limited (AESL) has reported a net profit of Rs 7.73 billion for the quarter ending September 2024, marking a 172.18% increase compared to Rs 2.84 billion in the same quarter last year.  The company’s total income also rose by 68.88%, reaching Rs 63.6 billion, up from Rs 37.66 billion during the corresponding period of the previous year.

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PFCCL transfers four SPVs to PGCIL and Adani Energy

India, News

On October 15, 2024, PFC Consulting Ltd (PFCCL) transferred four special purpose vehicles (SPVs) for interstate transmission system (ISTS) projects to their winning developers, selected through tariff-based competitive bidding (TBCB). The projects were handed over to Power Grid Corporation of India Ltd (PGCIL) and Adani Energy Solutions Ltd (AESL), with each developer receiving two projects. The SPVs, previously incorporated as PFCCL subsidiaries, were transferred as follows: South Olpad Transmission Ltd (incorporated January 19, 2024), handling…

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Adani Energy adds 2,000 ckm to transmission portfolio

India, News

Adani Energy Solutions Ltd (AESL) has added over 2,000 circuit kilometers (ckm) to its under-construction power transmission portfolio with three new project wins in Q2 FY25. These projects, totalling 2,059 ckm of transmission lines and 13,500 MVA of substation capacity, bring AESL’s total under-construction portfolio to 5,155 ckm of lines and 35,071 MVA. All three projects are part of interstate transmission system (ISTS) schemes awarded under the tariff-based competitive bidding (TBCB) route, with a combined…

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Khavda IV A project boosts Adani Energy Solutions’ transmission portfolio

India, News

Adani Energy Solutions Ltd (AESL) has expanded its transmission portfolio to 21,783 ckm and its transformation capacity to 61,686 MVA with the acquisition of the Khavda IV A transmission project. This project, acquired from RECPDCL under the tariff-based competitive bidding (TBCB) route, will be developed as an interstate transmission system (ISTS) under the build, own, operate & transfer (BOOT) model for 35 years. The Khavda IV A line will evacuate 7 GW of renewable energy,…

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Adani Energy and Sterlite secure ISTS projects from RECPDCL

India, News

REC Power Development & Consultancy Ltd (RECPDCL), the bid process coordinator, has transferred two interstate transmission system (ISTS) project special purpose vehicles (SPVs) to Adani Energy Solutions Ltd (AESL) and Sterlite Power, under the tariff-based competitive bidding (TBCB) mechanism. The first project SPV, Khavda IV A Power Transmission Ltd, has been awarded to Adani Energy Solutions Ltd. This project is part of the transmission system for Khavda Phase IV (7 GW) – Part A, located…

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Adani Energy’s $1 billion QIP oversubscribed six times, attracts top investors

India, News

Adani Energy Solutions’ $1 billion qualified institutional placement (QIP) was oversubscribed six times, drawing over Rs 500 billion in demand. Billionaire Stanley Druckenmiller’s Duquesne Family Office and two other US-based long-only funds, Driehaus Capital Management and Jennison Associates, made their maiden investment in the Adani Group’s power transmission business through this QIP. The $1 billion QIP attracted more than 120 investors interested in the power transmission, distribution, and smart metering sectors. Other top global investors…

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Adani Group to invest USD 35 billion in renewable energy over five years

India, News

The Adani Group has announced plans to invest USD 35 billion over the next five years to establish large-scale renewable energy plants across India.  The focus will be on solar, wind, and hybrid energy systems, aiming to play a significant role in the global energy transition. Sagar Adani, Executive Director of Adani Green Energy, revealed this initiative during a CEO panel discussion at the SBI Economic Conclave. He described it as one of the world’s…

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Adani Green Energy posts 39% rise in quarterly net profit to Rs 5.15 billion

India, News

Adani Green Energy Limited (AGEL) reported a net profit of Rs 5.15 billion for the quarter ending September 2024, marking a 39% increase from Rs 3.71 billion in the same quarter last year. The company’s total income rose by 30.39% to Rs 33.76 billion during this period, up from Rs 25.89 billion recorded in the corresponding quarter of the previous year.