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.
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…
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…
Adani Energy Solutions Ltd (AESL) has signed an agreement with the Kenya Electricity Transmission Company Ltd (Ketraco) to build, finance, and operate key transmission lines in Kenya for 30 years. This initiative aims to upgrade Kenya’s transmission infrastructure to ensure a more reliable power supply amid persistent blackouts. The project, estimated at KSh 95.68 billion (USD 736 million), will be funded through a combination of debt and equity raised by AESL. The Kenyan government will…
Adani Group is planning to develop 10 gigawatts (GW) of hydroelectric projects overseas in the coming years as part of its strategy to reach net zero carbon emissions by 2050. The conglomerate, led by billionaire Gautam Adani, is exploring projects in countries like Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam, according to sources familiar with the plans. The group is particularly interested in regions with favourable topography and growing demand for hydropower. The move…
Adani Total Gas (ATGL) has started blending 2.2-2.3% green hydrogen with natural gas for household cooking in Shantigram, Ahmedabad. This initiative, part of ATGL’s joint venture with Total Energies, will provide hydrogen-blended natural gas to 4,000 domestic and commercial consumers, reducing greenhouse gas emissions. The company plans to gradually increase the blend to 5% and eventually 8%, expanding supply beyond Shantigram to other areas of Ahmedabad and beyond. ATGL joins other Indian firms like NTPC…
The Tanzanian government is negotiating with the Adani Group for a $900 million public-private partnership to build high-voltage power lines. This project follows the group’s earlier success in securing a 30-year concession to operate the main container terminal at the port of Dar es Salaam. The investment is part of Tanzania’s broader push for infrastructural development and foreign investments. In parallel, Tanzania is also in discussions with UK firm Gridworks Development Partners for a $300…
Adani Power Limited (APL) has signed a business transfer agreement (BTA) with North Maharashtra Power Limited (NMPL) to acquire the Adani Dahanu thermal power station (ADTPS), which has a capacity of 2×250 MW (500 MW) in Dahanu, Maharashtra. With this acquisition, Adani Power’s total generation capacity will increase to 17,550 MW.
Adani Group has merged two of its subsidiaries, Adani Infrastructure and Mundra Solar Technology, with Adani New Industries Limited (ANIL), a subsidiary of Adani Enterprises (AEL). ANIL is expanding its solar manufacturing capabilities by setting up facilities to produce solar glass, aluminium frames, and backsheets. TotalEnergies holds a 25% equity stake in ANIL, while AEL owns the rest. Adani Infrastructure focuses on thermal and solar power projects, while Mundra Solar Technology manages electricity production and…
Adani Green Energy Ltd (AGEL) has completed a 50:50 joint venture (JV) with TotalEnergies. As part of this JV, TotalEnergies has invested USD 444 million to acquire a 50 per cent stake in AGEL’s solar projects at the world’s largest renewable energy plant in Khavda, Gujarat. The agreement was signed with TotalEnergies Renewables Singapore and Adani Renewable Energy Sixty Four (ARE64L). AGEL and TotalEnergies now hold an equal 50:50 stake in ARE64L, which houses a…
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