Adani Transmission Ltd (ATL) put into operation 1,104 ckm of new transmission lines in FY22, which was 41.5 per cent higher than the 780 ckm worth of lines commissioned in FY21.
In a statement, ATL said that operational revenue from the transmission business grew year-on-year by 15.2 per cent in FY22, and this growth was largely due to the commissioning of new lines.
ATL maintained system availability of its transmission network at 99.7 per cent, the statement said.
As of March 31, 2022, ATL’s transmission network stood at 18,795 ckm. During FY22, Adani Transmission fully commissioned the following three transmission projects, which were awarded under the tariff-based competitive bidding (TBCB) route:
- Ghatampur Transmission Ltd
- Bikaner Khetri Transmission Ltd
- Fatehgarh-Bhadla Transmission Ltd
During FY22, ATL was issued the letter of award for two interstate power transmission schemes (Karur Transmission and Khavda-Bhuj Transmission) and one intrastate project (Madhya Pradesh-Package II), under the TBCB modality.
Distribution business
ATL’s power distribution business, housed in its subsidiary Adani Electricity Mumbai Ltd (AEML), saw an improvement in distribution losses to 6.55 per cent in FY22, from 7.82 per cent in FY21.
The volume of business, measured in terms of electricity units sold, rose to 7,972 million kwh in FY22 from 7,169 million kwh – a growth of 11.2 per cent.
During the year, ATL added the distribution licensee business in Mundra SEZ area, covering 8,481 ha, housed under a new subsidiary MPSEZ Utilities Ltd. (Read more)
Foreign investment
Very recently, Adani Transmission Ltd received shareholders’ approval for an investment of Rs.3,850 crore in the company by Green Transmission Investment Holding RSC Ltd, by way of allotment of around 1.57 crore equity shares, at a price of Rs.2,454.95 per share. The same foreign entity will also be making an investment of Rs.3,850 crore in Adani Green Energy Ltd and Rs.7,700 crore in Adani Enterprises Ltd. (See table)
The principal shareholder of Green Transmission Investment Holding RSC Ltd currently is UAE-based IHC Capital Holding LLC. The total investment outlay by Green Transmission Investment Holding RSC Ltd in the three Adani Group entities works out to $2 billion.
