Noida, Aug 26 (APAC Media): Shares of Adani Energy Solutions Ltd rose around 1.5 per cent in Wednesday’s trade after the company announced that it had won a transmission project in Maharashtra involving an estimated capital expenditure of about ₹4,700 crore.
The project will facilitate the evacuation of up to 4,500 MW of renewable and storage power and strengthen transmission links between the southern and western regions, the company said.
Awarded through the tariff-based competitive bidding process, the project will be housed under the special purpose vehicle Satara Power Transmission Ltd. Adani Energy Solutions emerged as the lowest bidder for the project, which is scheduled to be completed within 36 months.
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The project will support the evacuation of renewable energy generated in Karnataka to major load centres in Maharashtra. It will also cater to the growing pumped-storage ecosystem in Satara, Pune and the Mumbai Metropolitan Region.
The project will add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity to Adani Energy Solutions’ portfolio. Following its completion, the company’s cumulative transmission network will increase to 29,739 circuit kilometres, while its transformation capacity will rise to 143,425 MVA.
The planned infrastructure includes a 765/400 kV substation at Satara, a 765 kV double-circuit transmission line between Kolhapur and Satara, and augmentation of the Kolhapur pooling station.
“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,” said Kandarp Patel, CEO of Adani Energy Solutions.
“The Satara transmission project will create a vital transmission backbone to support both renewable energy evacuation and energy storage deployment, strengthening power flows between Southern and Western India,” Patel said.
He added that the company remained committed to building future-ready transmission infrastructure to enable renewable energy growth, enhance grid stability and support India’s long-term decarbonisation goals.
The project comes as India expands its transmission infrastructure to integrate rising renewable generation and move toward its target of 500 GW of non-fossil fuel power capacity by 2030.
Adani Energy Solutions’ transmission order book stands at around ₹85,000 crore following the latest project win.
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Disclaimer:Â This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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