Adani Energy bags Rs 4,700 crore Maharashtra transmission project for renewable & storage power
New Delhi, August 26
Adani Group's transmission and distribution company Adani Energy Solutions Ltd. has bagged a Rs 4,700 crore transmission project in Maharashtra for evacuation of 4,500 MW of renewable and storage power, as per a company statement.
AESL noted in its release, it won the project "Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4500 MW) - Part A" through the Tariff Based Competitive Bidding (TBCB) process, emerging as the lowest bidder.
"Housed under Special Purpose Vehicle (SPV) Satara Power Transmission Ltd., the project will be delivered to the nation within 36 months," the company added, stating the project will add 562 circuit kilometres (ckm) of transmission lines and 9,000 MVA of transformation capacity to its portfolio.
With this, the company's cumulative transmission network will reach 29,739 ckm and 1,43,425 MVA transformation capacity.
Apart from this, the project comprises a 765/400 kV substation at Satara, a 765 kV double-circuit transmission line between Kolhapur and Satara, and the augmentation of the Kolhapur pooling station, along with related transmission infrastructure.
The company further stated in the release that it is developing specialised transmission networks to connect renewable energy hubs, including solar, wind and pumped storage projects, with major industrial and urban demand centres across the country.
"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," Kandarp Patel, CEO, Adani Energy Solutions Ltd said, as per the release.
Adani Energy shares were trading at around Rs 1609.30 per share, up 19.30 points or 1.21 per cent against the previous close of Rs 1,590 at the time of reporting.
— ANI
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