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Adani Energy to raise Rs 43 billion via QIP

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Adani Energy Solutions Limited (AESL) has approved raising Rs 43 billion through a qualified institutional placement (QIP), to be executed in one or more tranches. This move follows a series of recent fundraises by the Adani Group. In April 2025, it secured USD 750 million for an acquisition, with BlackRock subscribing to a third of the bond issue. Separately, Adani Ports raised USD 150 million via a bilateral loan from DBS Group Holdings Limited. Proceeds…

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Adani Energy wins Talegaon transmission project in Maharashtra

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Adani Energy Solutions Limited (AESL) has secured the transmission project to evacuate power from 1,500 MW pumped storage projects (PSPs) near Talegaon, Maharashtra.  REC Power Development and Consultancy Limited (REC PDCL) invited bids in October 2024. AESL emerged as the lowest bidder, quoting Rs 16.6 billion, with fixed transmission charges of Rs 2.21 billion. Competing bidders in the technical round included Power Grid Corporation of India Limited (PGCIL) and Resonia Limited. The project will be…

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REC transfers Mahan Transmission to Adani Energy

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REC Power Distribution Company Limited (REC PDCL) has transferred Mahan Transmission Limited, a special purpose vehicle (SPV), to Adani Energy Solutions Limited (AESL).  The handover, completed on March 26, 2025, follows a tariff-based competitive bidding (TBCB) process for selecting a transmission service provider (TSP). The project will be developed under the build, own, operate, and transfer (BOOT) model. The transmission system will evacuate 1,230 MW of power from the 2×800 MW thermal power project of…

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Adani Energy Solutions achieves 30 per cent transmission network expansion

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Adani Energy Solutions achieved significant growth during the latest quarter, expanding its transmission network to 26,485 circuit kilometres (ckm), marking a 29.7% increase from the previous year’s 20,422 ckm.  Its power transformation capacity surged to 84,286 MVA, up from 54,661 MVA YoY, while transmission availability stood at 99.21%, slightly lower than last year’s 99.69%. System availability remained stable at 99.69%. In project development, the company secured two major contracts: the Rs 34.55 billion Khavda Phase…

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PGCIL and Adani Energy qualify for Khavda transmission project

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Power Grid Corporation of India Limited (PGCIL) and Adani Energy Solutions Ltd have emerged as qualified bidders for the Augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme). REC Power Development and Consultancy Limited (REC PDCL) is the bid process coordinator (BPC) for selecting a transmission service provider (TSP) through a tariff-based competitive bidding (TBCB) process.  The project’s special purpose vehicle (SPV) is Khavda V-B1B2 Power Transmission…

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PFCCL transfers four SPVs to PGCIL and Adani Energy

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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…