Adani Energy Bags ₹4,700 Cr Maharashtra Transmission Project, Shares Down From Day's High

Adani Energy Solutions (AESL) has secured a ₹4,700-crore transmission project in Maharashtra to facilitate the evacuation of up to 4,500 MW of renewable and storage power, the company said in an exchange filing on Wednesday.

Titled “Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4500 MW) – Part A”, the project was awarded through the Tariff Based Competitive Bidding (TBCB) process, with AESL emerging as the lowest bidder, the company said.

The project will be implemented through the special purpose vehicle Satara Power Transmission Ltd. and is scheduled to be completed within 36 months, it added.

Shares of Adani Energy Solutions were trading at ₹1,590.70 on the National Stock Exchange (NSE), down ₹3.80 or 0.24%, at 1:45 pm on Wednesday.

During the early trade, the shares were trading ₹40 higher at ₹1,635.20 apiece.

The project involves an estimated capital expenditure of around ₹4,700 crore and will add 562 circuit kilometres (ckm) of transmission lines and 9,000 MVA of transformation capacity to AESL’s portfolio.

The planned infrastructure includes a 765/400 kV substation at Satara, a Kolhapur-Satara 765 kV double-circuit transmission line and augmentation of the Kolhapur pooling station, along with related transmission infrastructure.

AESL said the network will help evacuate renewable power generated in Karnataka to major load centres in Maharashtra and support pumped storage projects across Satara, Pune and the Mumbai Metropolitan Region.

Following the project win, AESL’s transmission order book stands at around ₹85,000 crore, while its cumulative transmission network will reach 29,739 ckm and transformation capacity will stand at 1,43,425 MVA.

Adani Energy Solutions CEO Kandarp Patel said pumped storage projects are becoming an important component of India’s clean energy transition.

"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," he said in the statement.

"The Satara transmission project will create a vital transmission backbone that supports both renewable energy evacuation and energy storage deployment, strengthening power flows between Southern and Western India," he added.

AESL said transmission infrastructure will remain critical as India works towards its target of 500 GW of non-fossil energy capacity by 2030.