With three new wins in the second quarter of FY25, Adani Energy Solutions Ltd (AESL) added over 2,000 ckm to its under-construction power transmission portfolio.
In a provisional operational update for Q2FY25, AESL said that during Q2 (July to September) of FY25, it won three new transmission projects entailing 2,059 ckm of transmission lines and 13,500 MVA of substation capacity.
These wins have taken AESL’s total under-construction power transmission portfolio to 5,155 ckm of lines and 35,071 MVA of substation capacity.
All the three wins represent interstate transmission system (ISTS) schemes awarded under the tariff-based competitive bidding (TBCB) route, and envisage collective investment of around Rs.10,300 crore.
According to information available with T&D India, these three ISTS-TBCB schemes are housed under Khavda IV A Power Transmission Ltd, Navinal Transmission Ltd and Jamnagar Transmission Ltd. (See end note)
As of September 30, 2024, AESL’s power transmission portfolio of under-construction projects had a combined outlay of around Rs.27,300 crore – increasing substantially from Rs.17,000 crore as of June 30, 2024.
Overall portfolio
AESL’s overall power transmission portfolio (including operational and under-construction) projects rose to 23,269 ckm as of September 30, 2024 from 19,862 ckm as of June 30, 2024 – a growth of 17 per cent. Similarly, AESL’s substation portfolio grew by nearly 33 per cent to touch 70,686 MVA, as of September 30, 2024.
Smart Metering
AESL’s smart metering portfolio, as of September 30, 2024, stood at 22.8 million meters with an aggregate envisaged investment of Rs.272 billion.
Power distribution
AESL’s power distribution business in Mumbai, housed under Adani Electricity Mumbai Ltd (AEML), saw improved performance in Q2FY25 with distribution losses falling to 4.85 per cent from 5.81 per cent in Q2FY24. Total electricity sales rose by around 7 per cent to 2,609 MU (million units or million kwh) in Q2FY25 from 2,446 MU in Q2FY24.
With respect to MPSEZ Utilities Ltd (MUL), AESL’s power distribution business in Mundra Special Economic Zone, electricity sales improved to 234 MU in Q2FY25 from 156 MU in Q2FY24, following robust industrial demand.
Editor’s Note: Of the three ISTS-TBCB projects of ASEL mentioned in this story — Khavda IV A Power Transmission Ltd, Navinal Transmission Ltd and Jamnagar Transmission Ltd – the formal transfer of Khavda IV A Power Transmission Ltd from the bid process coordinator to AESL took place on August 30, 2024, according to information available with T&D India. As of September 30, 2024, to the best of T&D India’s knowledge, the formal transfer of Navinal Transmission Ltd and Jamnagar Transmission Ltd, had not taken place. These two projects have therefore not been included in T&D India’s exclusive stories on the ISTS-TBCB market performance in H1FY25.
Key to abbreviations: In Table 2, the utility placing the mandate and the areas covered by the smart metering mandate, in serial order, are: (1) Brihanmumbai Electricity Supply & Transport Undertaking (Mumbai); (2) Assam Power Distribution Company Ltd (Tejpur, Mangaldoi, North Lakhimpur); (3) Andhra Pradesh Eastern Power Distribution Company Ltd (Srikakulam, Vizianagaram, Visakhapatnam, East Godavari and West Godavari); (4) Andhra Pradesh Central Power Distribution Company Ltd (Krishna, Guntur and Prakasam); (5) Andhra Pradesh Southern Power Distribution Company Ltd (Nellore, Chittoor, Kadapa, Anantapuram, Kurnoolam and Kurnool); (6) Maharashtra State Electricity Distribution Company Ltd (Bhandup Zone, Kalyan Zone and Konkan Zone); (7) Maharashtra State Electricity Distribution Company Ltd (Baramati Zone and Pune Zone); (8) North Bihar Power Distribution Company Ltd (Siwan, Suran, Gopalganj, Vaishali, and Samastipur); (9) Uttarakhand Power Corporation Ltd (Kumaon Region)
