The smart metering portfolio of Adani Energy Solutions Ltd (AESL) has crossed the 19-million mark, as of September 30, 2023.
According to an investor presentation filed on stock exchanges, AESL said that its cumulative smart metering portfolio amounted to around 19.3 million smart meters, with an estimated investment of Rs.232.4 billion.
All the projects have been awarded under the Revamped Distribution Sector Scheme (RDSS) using the TOTEX (Capex + Opex) model. Further, all projects have a uniform concession period (including O&M) of 120 months or ten years.
AESL’s smart metering portfolio received a big boost during Q2 (July to September) of FY24 when it received three major mandates – two in Maharashtra and one in Bihar. State utility Maharashtra State Electricity Distribution Company Ltd (MSEDCL) placed the following mandates:
- Bhandup, Kalyan and Konkan Zones (6.3 million meters, contract value: Rs.75.9 billion)
- Baramati and Pune Zones (5.2 million meters: contract value: Rs.62.9 billion)
In Bihar, state power discom North Bihar Power Distribution Company Ltd (NBPDCL) awarded AESL the mandate for 2.8 million meters with a contract value of Rs.31 billion. These meters will be rolled out in the Siwan, Suran, Gopalganj, Vaishali and Samastipur regions of north Bihar.
It may be mentioned that in Q1 (April to June) of FY24, AESL received three mandates in Andhra Pradesh for a total quantum of 3.1 million smart meters envisaging investment of around Rs.41.2 billion. Each of these three mandates will be implemented by a wholly-owned subsidiary of AESL, “Adani Energy Solutions Step Seven Ltd.”
Power transmission
In Q2 of FY24, AESL added 219 ckm of new transmission lines taking its cumulative operational portfolio of transmission lines to 19,862 ckm, as of September 30, 2023. The company’s aggregate operational substation (transformation) capacity stood at 53,161 MVA, as of the same date.
As of September 30, 2023, AESL had eight transmission projects under construction envisaging a total transmission network of around 2,800 ckm and transformation capacity of little under 24,000 MVA. The portfolio was dominated by projects awarded under the tariff-based competitive bidding (TBCB) route and included both interstate and intrastate schemes.
It may be noted that the project SPV “KPS1 Transmission Ltd” was formed for the development of an interstate transmission scheme, officially termed as: “Transmission scheme for injection beyond 3 GW RE (renewable energy) power at Khavda Pooling Station 1 (KPS1)”. On April 20, 2023, bid process coordinator REC Power Development & Consultancy, the bid process coordinator, formally transferred the project SPV to Megha Engineering & Infrastructures Ltd (MEIL) after the latter emerged as the selected bidder under the TBCB route. However, on August 17, 2023, Adani Energy Solutions Ltd, in a stock exchange communication, announced that its board had approved to take over “KPS1 Transmission Ltd” from its original owner MEIL.
Also read: Adani Commissions 765kV Warora-Kurnool Transmission Line
Project completion
Speaking of completion of transmission projects in Q2 of FY24, Adani Energy Solutions Ltd commissioned the interstate transmission scheme housed under Karur Transmission Ltd.
Featured photograph is for representation only.
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