Adani Transmission Ltd (ATL), part of the Adani Group, said that it recorded availability of 99.76 per cent of its transmission network during FY20 (2019-20). It also maintained a very high supply reliability of 99.99 per cent.
ATL announced its physical performance along with the financial results for FY20. Speaking on the performance of the company, Gautam Adani, Chairman, Adani Group, said, “There is abundant potential for significant growth in India’s transmission sector in the coming years. With the government’s core focus towards the objective of 24×7 Power for all, Adani Transmission Limited with its widespread network and continuous growth looks forward to become world-class Electric Utility. Through its integrated ESG philosophy focusing on long-term value creation, ATL is striving towards nation building and fueling sustainability and will continue to explore opportunities for growth.”
During FY20, ATL got 129 ckm of new transmission lines in operations. It also won six new transmission projects including the “Mumbai HVDC” project.
ATL also reduced its distribution losses to 7.37 per cent in FY20. This metric pertains to its power distribution business managed by Adani Electricity Mumbai Ltd (AEML). It is the licensee for an integrated power distribution, transmission and generation business that currently serves more than 3 million consumers across a license area of approximately 400 sqkm in Mumbai city.
Among other highlights for FY20 included the successful completion of ATL’s maiden $400-million private placement issue that concluded in March 2020. The equity investment by Qatar Investment Authority (QIA) in AEML was also completed during the financial year.
According to Anil Sardana, MD & CEO, Adani Transmission Ltd, “Adani Transmission has evolved over the past few years from a high growth developing company to a mature asset operator with limited greenfield risk. Fueled by Indian economic growth, the growing power demand, coupled with government’s commitment to 24×7 power and promotion of renewable capacity will further drive power industry at large. Towards this effort, ATL’s focus in FY20 has been to expand the grid network and ensure high quality of electricity supply to our consumers. Through leveraging technology, innovation and commitment to transmitting bulk green power, we always make efforts to deliver and fuel country’s power demands. Company has also used its Business Continuity and Disaster Management drills during ongoing pandemic times in order to continue its essential services seamlessly.”
(Featured photograph is a file picture of a GIS substation in Adani Transmission’s power distribution network in Mumbai.)
