Adani Energy Solutions Ltd (AESL) has won a transmission project in Maharashtra with an estimated capital expenditure of around Rs 4,700 crore to evacuate renewable energy and support pumped storage projects of up to 4,500 MW.
Adani Energy's shares jumped following the news and hit intraday high of Rs 1,637.75 apiece on BSE Sensex. The shares were last trading 1.43% higher at Rs 1,612.80 as of 10:25 am.
The project, called “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 process, with AESL emerging as the lowest bidder.
The project will support renewable energy evacuation from Karnataka to major load centres in Maharashtra and the pumped storage ecosystem in Satara, Pune and the Mumbai Metropolitan Region.
Also Read: Uttarakhand government approves 25-year power procurement from Adani Power
Housed under the special purpose vehicle Satara Power Transmission Ltd, the project is scheduled to be completed within 36 months. It will add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity to AESL’s portfolio.
The project includes setting up 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 associated transmission infrastructure.
Following the addition, AESL’s cumulative transmission network will rise to 29,739 circuit kilometres, with transformation capacity of 1,43,425 MVA. Its transmission order book now stands at around Rs 85,000 crore.
“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.
