Adani Energy Solutions wins ₹4,700 crore Maharashtra transmission project
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Adani Energy Solutions Ltd. (AESL) has won a transmission project worth an estimated ₹4,700 crore in Maharashtra to facilitate the evacuation of up to 4,500 MW of renewable and storage power, the company said on Wednesday.
The project, titled "Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4500 MW) - Part A", was awarded through the Tariff Based Competitive Bidding (TBCB) process, with AESL emerging as the lowest bidder.
Project to strengthen southern-western power flows
The project will support the evacuation of renewable energy generated in Karnataka to major load centres in Maharashtra and is expected to strengthen power flows between the Southern and Western grids. It will also support the growing pumped storage ecosystem across Satara, Pune and the Mumbai Metropolitan Region.
The project will be housed under the special purpose vehicle (SPV) Satara Power Transmission Ltd. and is scheduled to be completed within 36 months.
As part of the project, AESL will establish a 765/400 kV substation at Satara, construct the Kolhapur-Satara 765 kV double-circuit transmission line and augment the Kolhapur pooling station, along with associated transmission infrastructure.
Transmission order book stands at ₹85,000 crore
The project will add 562 circuit kilometres (ckm) of transmission lines and 9,000 MVA of transformation capacity to AESL's portfolio. Following the addition, the company's cumulative transmission network will increase to 29,739 ckm, while its transformation capacity will rise to 1,43,425 MVA.
AESL's transmission order book now stands at around ₹85,000 crore, according to the company.
"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.
The project comes as India expands its renewable energy capacity and works towards its target of installing 500 GW of non-fossil energy capacity by 2030. Transmission infrastructure is expected to play a key role in connecting renewable energy generation and storage projects with industrial and urban demand centres.
Shares of Adani Energy Solutions were trading higher on Wednesday, at 10:05 am, stocks were touching a high of ₹1,637.75 and a low of ₹1,588.25. The stock opened at ₹1,617.85, while its volume-weighted average price (VWAP) stood at ₹1,610.81.