Latest news with #AdaniEnergy
Time of India
3 days ago
- Business
- Time of India
Adani Energy Solutions to raise Rs 4,300 cr via share sale
Adani Energy Solutions will seek to raise Rs 4,300 crore through a qualified institutional placement (QIP) or other permissible method as per applicable laws. The company said in a regulatory filing on Saturday that the fundraise will be done in one or more tranches, subject to getting necessary approvals, including from the company's shareholders. This fiscal year, Adani Energy plans to spend Rs 16,000-18,000 crore in capital expenditure, up from last year's spending of Rs 11,444 crore. Of the total, it will invest Rs 12,000-13,000 crore in transmission, Rs 4,000 crore in smart meters, and Rs 1,600 crore in distribution. On Saturday, the company also redesignated Kandarp Patel, chief executive officer (CEO)-KMP, as an additional director and whole-time director & CEO (KMP) of the company for a three-year period effective May 31. The company also appointed Hemant Nerurkar and Amiya Chandra as additional directors (non-executive and independent) on the board for a similar three-year period. Live Events
Bloomberg
3 days ago
- Business
- Bloomberg
Adani Energy Approves Raising $502 Million Via Share Sale
Billionaire Gautam Adani-controlled Adani Energy Solutions Ltd. approved raising 43 billion rupees ($502 million) via a stake sale. The Adani Group unit's board passed an enabling resolution to raise the amount via 'Qualified Institutional Placement' in one or more tranches, according to an exchange filing Saturday.
Entrepreneur
3 days ago
- Business
- Entrepreneur
Adani Energy Wins INR 1,660 Crore Transmission Project in Maharashtra
This will take AESL's total transmission network to 26,696 circuit kilometers (ckm) and transformation capacity to 93,236 MVA, reinforcing its position as a key player in India's power transmission sector. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Adani Energy Solutions Ltd (AESL), India's largest private transmission and distribution company, has secured a major inter-state transmission project worth INR 1,660 crore in Maharashtra. According to a regulatory filing by AESL, the company will develop critical infrastructure to support green energy evacuation from hydro-based projects in the region. The project involves establishing 3,000 Mega Volt-Amperes (MVA) of substation capacity along with associated transmission infrastructure. This will take AESL's total transmission network to 26,696 circuit kilometers (ckm) and transformation capacity to 93,236 MVA, reinforcing its position as a key player in India's power transmission sector. The project will be executed under a Special Purpose Vehicle (SPV) named WRNES Talegaon Power Transmission Ltd, which was officially transferred to AESL today. The infrastructure is expected to be commissioned by January 2028 and will play a vital role in evacuating 1.5 gigawatts (GW) of green power generated from upcoming hydro Pumped Storage Projects (PSPs) in the region. This energy will serve the growing electricity demand of Mumbai and surrounding urban centers. The project was awarded through the Inter State Transmission System (ISTS) mechanism under Tariff Based Competitive Bidding (TBCB), with REC Power Development and Consultancy Ltd (RECPDCL) acting as the bid process coordinator. This win further strengthens AESL's portfolio and demonstrates its continued success in the competitive power transmission market. With this addition, the company's order book now stands at approximately INR 61,600 crore. AESL is part of the diversified Adani Group and is known for its strategic focus on building sustainable and high-capacity transmission networks across India. The company has consistently expanded its footprint through a combination of organic growth and competitive bidding, aligning with the country's larger shift towards renewable energy integration and grid modernization. By facilitating the transmission of hydroelectric power, the Talegaon project also contributes to India's broader decarbonization goals. It exemplifies AESL's role not just as a transmission company, but as an enabler of the country's energy transition.
