About
Adani Energy Solutions Ltd
Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited (ATL)) headquartered at Ahmedabad in Gujarat, is the
transmission and distribution arm of the Adani Portfolio, as fastest growing and the largest private transmission company in India. The Company operates across 14 states, with a portfolio of 19,779 circuit kilometers (ckm) of transmission lines and more than 46,001 MVA of power transformation capacity from 132 to 765 kilovolts of HVAC systems and 500 kilovolts of HVDC systems. Currently, 15,371 ckm are operational, while 4,408 ckm are under construction.
Adani Energy Solutions Limited was incorporated on 9 December, 2013. The Company and its subsidiaries are engaged in the business of generation, transmission and distribution of power through India. The Group develops, owns and operates transmission lines across the States of Gujarat, Rajasthan, Bihar, Jharkhand, Uttar Pradesh, Maharashtra, Haryana, Chhattisgarh, Madhya Pradesh, West Bengal, Tamil Nadu, Andhra Pradesh and Telangana and Karnataka. Apart from the above, the Group deals in various Bullion commodities.
The High Court of Gujarat vide its Order dated 7 May 2015 sanctioned the Composite Scheme of Arrangement between Adani Enterprises Limited (AEL), Adani Ports and Special Economic Zone Limited (APSEZ), Adani Power Limited (APL), Adani Transmission Limited (ATL) and Adani Mining Private Limited (AMPL) and their respective Shareholders and Creditors. The Scheme, with effect from 1 April 2015, inter alia, provided for Demerger of the Transmission Undertaking of AEL comprising the undertaking, businesses, activities, operations, assets and liabilities pertaining to the Mundra- Zerda Transmission Line and the investment of AEL in ATL into ATL.
On 25 November 2015, Adani Transmission announced that the company has acquired 3 Wholly Owned Subsidiaries of PFC Consulting Limited (a Wholly Owned Subsidiary of Power Finance Corporation Limited) viz. Chhattisgarh-WR Transmission Limited for System Strengthening for IPPs in Chhattisgarh and other Generation Projects in Western Region, Sipat Transmission Limited for Additional System Strengthening for Sipat STPS and Raipur-Rajnandgaon-Warora Transmission Limited Additional System Strengthening Scheme for Chhattisgarh IPPs (Part-B). The company has acquired these three companies from PFC Consulting Limited (PFCCL) pursuant to competitive bidding process carried out by PFCCL. With these new acquisitions and upon completion of these projects, ATL's transmission network will increase from 5051 Ckt Km to 6435 Ckt Km.
On 8 July 2016, Adani Transmission announced that it has acquired 100% equity share capital of an SPV company North Karanpura Transco Limited (NKTL), a wholly owned subsidiary of REC Transmission Projects Company Limited (RECTPCL) pursuant to competitive bidding process carried out by RECTPCL. NKTL was incorporated in November 2015 by RECTPCL to establish transmission system for immediate evacuation for North Karanpura generation project of NTPC along with creation of 400/220KV sub-station at Dhanbad, Jharkhand on BOOM basis.
On 26 July 2016, Adani Transmission announced that it has signed a Purchase Agreement with Credit Suisse AG, Singapore branch for its Indian rupee denominated Masala bond of Rs 500 crore with coupon of 9.1%.
On 5 October 2016, Adani Transmission announced the signing of Binding Term Sheet with Reliance Infrastructure Ltd. (R-Infra) to acquire inter-state operational transmission assets viz. 100% stake of Western Region Strengthening System Scheme B (WRSSS B) - around 2089 ckt kms, 100% stake of Western Region Strengthening System Scheme C (WRSSS C) - around 974 ckt kms and 74% shares of R-Infra in Parbati Koldam Transmission Company Limited (PKTCL). PKTCL is a joint venture between R-Infra and Power Grid Corporation of India Limited (PGCIL). R-Infra holds 74% equity stake and PGCIL holds 26% equity stake in the company - around 458 ckt kms. On 7 December 2016, Adani Transmission announced that it has executed Share Purchase Agreement (SPA) with R-Infra for acquisition of R-Infra's WRSSS transmission assets of approximately 3100 ckt kms.
On 7 October 2016, Adani Transmission Ltd (ATL) announced the acquisition of 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL). While payment has been made for 100% stake in both the companies, the remaining stake in both the companies will be transferred to ATL in a manner consistent with the Transmission Service Agreement. This acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic growth. Earlier, on 1 July 2016, Adani Transmission announced that it has signed definitive agreement with GMR Energy Ltd. to acquire 74% Equity Shares of Maru Transmission Service Company Limited (MTSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. On the same, it also announced signing definitive agreement with GMR Energy Ltd. to acquire 49% Equity Shares of Aravali Transmission Service Company Limited (ATSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. MTSCL operates 400 KV S/C Bikaner-Deedwana transmission line and 2X315 MVA, 400/220 KV grid sub-station at Deedwana and other associated works in Rajasthan. ATSCL operates 400 KV S/C Hinduan-Alwar transmission line and 2X315 MVA, 400/220 KV grid sub-station at Alwar and other associated works in Rajasthan.
On 3 April 2017, Adani Transmission Ltd (ATL) announced that it has received the 3 LOIs from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company Limited (PPP-8), Barmer Transmission Company Limited (PPP 9), and Thar Transmission Company Limited (PPP-10) collectively have approximately 350 Ckt kms of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. These assets were awarded through a Tariff Based Competitive Bidding Process. With these Projects, ATL will strengthen its existing significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company Ltd) and Suratgarh Bikaner project, which is under construction.
On 5 August 2017, Adani Transmission Ltd (ATL) announced that the company has acquired 100% equity share capital of two SPV companies namely, Barmer Power Transmission Service Limited (BPTSL) and Thar Power Transmission Service Limited (TPTSL), from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 4 August 2017 pursuant to competitive bidding process carried out by RVPN. These two SPV companies were incorporated in June 2016 by RVPN for development of 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.
On 14 August 2017, Adani Transmission Ltd (ATL) announced that it has acquired 100% equity share capital of SPV company namely, Hadoti Power Transmission Service Limited (HPTSL), from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 11 August 2017 pursuant to competitive bidding process carried out by RVPN. HPTSL was incorporated in May 2016 by RVPN for development of 220 KV and 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.
On 1 November 2017, Adani Transmission Ltd (ATL) announced that it has completed the acquisition of 100% stake of Western Region Transmission Maharashtra (WRTM) project and Western Region Transmission Gujarat (WRTG) project, having operational transmission lines aggregating 3063 ckt kms with deal valued at about Rs 1000 crore. With these acquisitions, ATL attains a new milestone of 8500 ckt kms of transmission lines in operation.
On 21 December 2017, Adani Transmission (ATL) announced that it has signed a binding Share Purchase Agreement (SPA) to acquire the Mumbai Generation, Transmission and Distribution (GTD) business from Reliance Infrastructure. Adani Transmission has valued the business at a total consideration of Rs 12101 crore. In addition the Regulatory Assets approved to the extent of Rs 1150 crore for the period 1 April 2018 to 31 March 2019 will be to the account of the Seller. The GTD business caters to about 3 million customers, making it the country's largest private sector integrated power utility, entailing about 1,892 MW of power distribution along with generation facilities (500 MW thermal coal based) and over 540 ckt kms of transmission network. The proposed transaction will mark ATL's foray into distribution space and also strengthen Adani Transmission's footprint in the power transmission sector. With this acquisition, apart from largest distribution network, the cumulative transmission network of ATL will reach around 12000 ckt kms, out of which approximate 9540 ckt kms are under operation (including about 1000 ckt kms under process of acquisition) and approximate 2350 ckt kms under various stages of construction. The transformation capacity of ATL will increase to 19,200 MVA from 36 substations (Including 8 EHV Substations under acquisition) spread across the country.
On 15 March 2018, Adani Transmission (ATL) announced that it has acquired 100% equity share capital of Fatehgarh-Bhadla Transmission Limited (FBTL) from PFC Consulting Limited (PFCCL) on 14 March 2018 pursuant to tariff based competitive bidding process carried out by PFCCL. FBTL was incorporated in December 2016 by PFCCL to establish transmission system for Ultra Mega Solar Park in Fatehgarh, District Jaisalmer, Rajasthan.
In 2019, transmission line of 227 ckt km got operational. The Company had 20 direct subsidiaries as on 31st March 2019. During the year 2019-20, it acquired Bikaner-Khetri Transmission Limited from PFC Consulting Limited. It acquired Lakadia Banaskantha Transco Limited, Jam Khambaliya Transco Limited and WRSS XXI (A) Transco Limited from REC Transmission Projects Company Limited. Apart from acquisitions, it incorporated Arasan Infra Private Limited and Sunrays Infra Space Private Limited as a wholly-owned subsidiary Company. Adani Electricity Mumbai Services Limited was incorporated as a wholly-owned subsidiary Company, name of which changed to Power Distribution Services Limited subsequently w.e.f. 2nd January 2020. Adani Electricity Mumbai Infra Limited was
incorporated as a wholly-owned subsidiary Company of Adani Electricity Mumbai Limited a material subsidiary of the Company, which increased the subsidiaries to 28 as on 31st March 2020. The Company had signed the Share Purchase Agreement in December 2019 with Adani Electricity Mumbai Limited (AEML), a material subsidiary company and Qatar Holdings LLC (Investor), and acquired 25.1% equity shares of the AEML with effect from 10th February 2020.
The Company had 28 direct subsidiaries as on 31st March, 2020. It acquired Kharghar Vikhroli Transmission Private Limited from Maharashtra State Electricity Transmission Company Limited. It acquired Alipurduar Transmission Limited from Kalpataru Power
Transmission Company. It incorporated Adani Transmission Step-One Limited as a wholly owned subsidiary Company. It incorporated AEML SEEPZ Limited as a wholly owned subsidiary Company of Adani Electricity Mumbai Limited, which is a material subsidiary of the Company. With this, the e total number of subsidiaries as on 31st March, 2021 was 33.
The Company had ~13,027 ckt km of operational transmission lines and around 18,455 MVA of power transformation capacity as on 31st March, 2021. The Company had 33 subsidiaries in year 2021. During year 2021, Company acquired Warora Kurnool Transmission Limited from Essel Infraprojects Ltd. in Maharashtra, Andhra Pradesh and Telangana. It acquired Reliance Infrastructure's integrated utility comprising generation, transmission and retail electricity distribution (Adani Electricity Mumbai Limited). It acquired MPSEZ Utilities Limited (MUL) from Adani Ports and Special Economic Zone Limited (APSEZ). It acquired MP Power Transmission Package-II Limited from REC Power Development and Consultancy Limited (formerly known as REC Power Distribution Company Limited). It acquired Khavda-Bhuj Transmission Limited and Karur Transmission Limited from PFC Consulting Limited respectively. It incorporated ATL HVDC Limited as a wholly owned subsidiary company, which increased the number of Subsidiaries to 38 as on 31st March 2022.
During the year 2023, Company acquired two companies, WRSR Power Transmission Limited and Khavda II-A Transmission Limited. ATL commissioned Green Energy Corridor-II Projects. The Company commissioned 765 kV D/C Lakadia-Banaskanta Line adding new 352 CKM to transmission network. It commissioned Transmission System for Jam Khambaliya Pooling Station and Interconnection of Jam Khambaliya Pooling Station for Providing Connectivity to RE Projects (1500 MW) in Dwarka (Gujarat) and Installation of 400/220 kV ICT along with Associated Bays at CGPL Switchyard. Jam Khambhaliya Pooling Station became operational for providing connectivity to RE projects with transformation capacity of 2000 MVA. It established a 765/400 kV Lakadia PS with transformation capacity of 3000 MVA. It installed 400/220 kV ICT along with Associated Bays at CGPL Switchyard adding 500 MVA to transformation capacity.
Adani Energy Solutions Ltd
Chairman Speech
Optimism comes from Resilience. Resilience comes from Belief. Belief is
Optimism
To say the world is in uncharted waters would be an understatement.
The adverse impact of a mix of the pandemic, armed conflict and climate
change has exposed the fragility of the global system that we had largely considered as
having competently learned how to manage itself. It has now dawned on governments across
the world that the implications of this multidimensional crisis are hard to predict, may
complicate further and that signs of its damaging effects — uncontrolled inflation,
disrupted food supplies, increased human displacement, exposed healthcare machinery,
stalled education levels and faltering job creation ecosystems — are evident and
testing the resilience of every nation.
Resilience is defined as the characteristic that makes it possible to
rebound into shape; it is the ability to withstand crises; it is the ability to face
uncertainties with curiosity and optimism. This capacity to rebound is becoming harder to
model or predict as the crises drivers are becoming harder to anticipate and increasingly
intermingled. While there is always room for debate, there can be no denying that, looking
back, India has emerged far better in its handling of the Covid-19 crisis from the
humanitarian and economic perspectives than most developed economies. India has been able
to take a mature approach to the ongoing conflict and has been one of the most aggressive
nations in terms of establishing a renewable energy target for itself; while doing all of
this, India has also emerged as the fastest growing major economy.
The overarching takeaway is that despite global instability, India has
fared better than almost any other major nation. While there were situations over the past
24 months when it appeared that events were getting out of control, we must give credit
where credit is due — India was able to bounce back each time, a testimony to our
nation's resilience. In my view, utopian as some may call it, India's resilience comes
from its historic culture that has been shaped across thousands of years — a model of
co-existence that actually works and the philosophy of 'vasudhaiva kutumbakam', which
means that the world is one family.
A culture of resilience
In my view, utopian as some may call it, India's resilience comes from
its historic culture that has been shaped across thousands of years - a model of
co-existence that actually works and the philosophy of 'vasudhaiva kutumbakam', which
means that the world is one family.
It is India's inherent resilience that provides our nation its
underlying optimism. My belief in our nation has never been higher. To use a cricketing
analogy, we are now playing on one of the strongest home grounds and on one of the firmest
pitches that has ever existed. This pitch is expected to remain firm for several decades.
Optimism comes from resilience. Resilience comes from belief. And belief is optimism.
In our case, it is this resilience, optimism and belief that drives us.
The primary reason for the success of the Adani Group comes from our alignment with the
India growth story. Never have we shied from investing in India, never have we slowed our
investments, and never have we feared to enter adjacent sectors - our resilience comes
from this unshakeable belief and confidence in the aspirations of our fellow Indians and
the future of India.
During the journey of more than 25 years, there were uncharted waters
we entered and multidimensional crises that we faced. While we may have stumbled a few
times, we were always able to get back on our feet. Our ability to rise after every
stumble meant we grew bigger and stronger by drawing on our experience. It is these
experiences that have enriched us with resilience and laid the foundation of our optimism.
At a fundamental level, our strategy is linked to the strategy of the
nation. Over the past decades, we have always believed in the policies announced by the
Government, have continued to invest through all economic cycles, watched for emerging
sectors critical for the country's growth and entered new sectors with a confidence in our
learning and operating abilities. We have grown adjacency by adjacency without getting
hung up on textbook business models. We have built infrastructure anticipating a far
larger and greater India; this confidence has paid dividends.
The sum of these investments of the past empowered us to address the
present crisis and set us up stronger to handle any new crisis in the future. It is this
future that unfolded over the period FY 21-22. This was a year when we announced ourselves
to the world. In FY 21-22, our confidence in our ability was validated. Our belief in our
past defines our ability to believe in our future, translating into the big bets that we
make.
Preparing to go 'green'
The best recent evidence for our confidence and belief in the future
has been the US$ 70 Bn investment we announced in facilitating India's 'green' transition.
We are already one of the world's largest developers of solar power. Our strength in
renewables will empower us enormously in our effort to make 'green' hydrogen, the fuel of
the future; it will equip us to produce
Our combined Group market capitalisation exceeded US$ 200 Bn. We raised
billions of dollars from the international markets - a validation of confidence in the
India and Adani growth stories. the least expensive 'green' electron and the least
expensive hydrogen. We are leading the race to transform India from a country that is
over-reliant on imported oil and gas to a country that can become a net exporter of clean
energy. This would be a 'never- done-before' transformation in fortunes in a stunningly
short period of time across the largest scale. This transformation will help reshape
India's energy footprint in an extraordinary way.
While we are now a major global renewable energy player, we made
remarkable progress in several other industries. In one stroke, we have become the largest
airport operator in India. Around the airports where we operate, we are engaged in the
adjacent business of building aerotropolises and creating localised community-based
economic centres. We have made entries in sectors ranging from data centres, super apps
and industrial clouds to defence and aerospace, metals and materials - all aligned with
the Government's vision of an Atmanirbhar Bharat.
We continue to grow as builders of India's infrastructure, winning some
of the largest road contracts in the nation and growing our already substantial market
share in businesses like ports, logistics, transmission and distribution, city gas and
piped natural gas. The successful IPO of Adani Wilmar made us the largest
FMCG company in the country and we are now the second largest cement
manufacturer in India. This year, our combined Group market capitalisation exceeded US$
200 Bn. We raised billions of dollars from the international markets - a validation of
confidence in the India and Adani growth stories. This growth and success have been
recognised around the world. Foreign governments now come to us with proposals to work in
their geographies and help build their infrastructure. The result is that in 2022 we laid
the foundation to seek a broader expansion beyond India's boundaries.
I have no reason to believe that over the next two decades we will not
suitably address this challenge. It is a virtuous cycle that is driven by the growth in
the middleclass population and India today enjoys the world's firmest pitch on which to
bat.
Robust results, record numbers
The growth in our market capitalisation has been supported by a robust
and sustained growth in our cash flows. Our focus on operational excellence and accretive
capacity addition delivered, across our portfolio, an EBITDA growth of 26%. Portfolio
EBITDA stood at RS42,623 Crore. This growth was diversified and reflected across our
businesses, the results speaking for themselves.
Group highlights
¦ Our Utilities portfolio grew 26%
¦ Our Transport and Logistics portfolio grew 19%
¦ Our FMCG portfolio grew 34%; and
¦ Our Incubator business, represented by AEL, grew 45%
The high growth of our incubator AEL provides the group with a robust
foundation for the continued development of new businesses for yet another big decade.
AELs unique business model has no parallel and we intend to leverage this further.
Segment highlights
AGEL
¦ Adani Green Energy Limited added 1,940 MW operational capacity
in FY 21-22 (greenfield commissioning 200 MW and inorganic addition 1,740 MW)
¦ Adani Green Energy Limited's solar capacity utilisation factor
(CUF) improved 130 bps YoY to 23.8% and wind CUF improved 400 bps YoY to 30.8% in FY 21-22
ATL
¦ Adani Transmission Limited added 1,104 ckm to its network,
reaching 18,795 ckm, and sold a record 7,972 Mn units during the year.
APSEZ
¦ Adani Ports and Special Economic Zone Limited cargo volume
grew 26% to 312 MMT in FY 21-22; the journey from 200 MMT to 300 MMT in cargo volume was
achieved in the record time of just three years.
¦ Adani Ports and Special Economic Zone Limited also handled
record container volume of 8.2 Mn TEUs, a growth of 14%
ATGL
¦ Adani Total Gas Limited added 117 CNG stations, 556
commercial, 154 industrial and 85,840 domestic customers, a combined volume of 697 MMSCM
(CNG+PNG)
Strategic highlights
¦ Adani Green Energy Limited completed the acquisition of
Softbank's 5 GW renewable energy portfolio
¦ Adani Enterprises Limited commenced operations of its Bravus
mine in Australia.
¦ Adani Enterprises Limited took over operations of the
Guwahati, Jaipur and Thiruvananthapuram airports and completed the acquisitions of MIAL
and NMIAL.
While we can look back and feel content, we are only now gathering
momentum, What we have built over two decades is India's largest integrated infrastructure
business based on a rapid extension into adjacent businesses. The result is that this is
now being transformed into an integrated 'platform of platforms' that combines energy with
logistics, This is moving us closer to an unprecedented access to the Indian consumer, I
know of no company that has such a business model with potential access to an unlimited
B2B and B2C market for the next several decades,
A landmark year
It is here that I also want to take a moment to reflect on 2022 as a
year with special personal meanings, It represents the 100th birth anniversary
of my inspiring and role model father Shri Shantilal Adani, and my 60th birthday,
To mark this milestone, the Adani family came together and decided to contribute RS60,000
Crore towards charitable activities related to healthcare, education and skill
development, especially for rural India, These three areas should be seen holistically,
rather than separately, because they collectively form the drivers for an equitable and
future-ready India, We have an opportunity in India to decisively lift tens of millions of
people permanently out of poverty,
We owe it to ourselves and our country to do everything we can to
catalyse that process, Our experience in large project planning and execution and the
learnings from the ongoing work done by the Adani Foundation will help us uniquely
accelerate and implement these programmes across societies that need them the most,
The road ahead
Getting back to the theme of optimism as a driving force for a society,
Martin Seligman, often referred to as the 'father of positive psychology', wrote in the
Harvard Business Review that he came to his insights into the power of optimism 'the long,
hard way, through many years of research on failure and helplessness,' Essentially, he
discovered over several years of studies, that resilient people develop the courage of
interpreting setbacks as temporary, local and changeable, A quote attributed to Winston
Churchill echoes Seligman's findings on resilience, "Success is not final,"
Churchill is supposed to have said, "failure is not fatal: it is the courage to
continue that counts,"
The reason I have always been inspired by writing and thinking around
resilience is because as an entrepreneur, my philosophy has always been to keep trying,
I am an incurable optimist, My optimism is founded on my belief in our
ability to create a better future, This is why I always argue that India has become one of
the greatest countries in which to be an entrepreneur, The prospects and potential for the
future are dazzlingly bright, In India, I see a real relish to finally reclaim our former
economic stature and our position as a pivotal force in global affairs, There will be
bumps along the road, as has been the case in the past, and is expected to be the case in
the future, However, there cannot be any doubt that the largest middle-class that will
ever exist, augmented by an increase in the working age and consuming population share,
will have a positive impact on India's growth rates, much in line with the demographic
dividend that India enjoys,
I have no reason to believe that over the next two decades we will not
suitably address this challenge, It is a virtuous cycle that is driven by the growth in
the middle-class population and India today enjoys the world's firmest pitch on which to
bat,
  Â
Adani Energy Solutions Ltd
Company History
Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited (ATL)) headquartered at Ahmedabad in Gujarat, is the
transmission and distribution arm of the Adani Portfolio, as fastest growing and the largest private transmission company in India. The Company operates across 14 states, with a portfolio of 19,779 circuit kilometers (ckm) of transmission lines and more than 46,001 MVA of power transformation capacity from 132 to 765 kilovolts of HVAC systems and 500 kilovolts of HVDC systems. Currently, 15,371 ckm are operational, while 4,408 ckm are under construction.
Adani Energy Solutions Limited was incorporated on 9 December, 2013. The Company and its subsidiaries are engaged in the business of generation, transmission and distribution of power through India. The Group develops, owns and operates transmission lines across the States of Gujarat, Rajasthan, Bihar, Jharkhand, Uttar Pradesh, Maharashtra, Haryana, Chhattisgarh, Madhya Pradesh, West Bengal, Tamil Nadu, Andhra Pradesh and Telangana and Karnataka. Apart from the above, the Group deals in various Bullion commodities.
The High Court of Gujarat vide its Order dated 7 May 2015 sanctioned the Composite Scheme of Arrangement between Adani Enterprises Limited (AEL), Adani Ports and Special Economic Zone Limited (APSEZ), Adani Power Limited (APL), Adani Transmission Limited (ATL) and Adani Mining Private Limited (AMPL) and their respective Shareholders and Creditors. The Scheme, with effect from 1 April 2015, inter alia, provided for Demerger of the Transmission Undertaking of AEL comprising the undertaking, businesses, activities, operations, assets and liabilities pertaining to the Mundra- Zerda Transmission Line and the investment of AEL in ATL into ATL.
On 25 November 2015, Adani Transmission announced that the company has acquired 3 Wholly Owned Subsidiaries of PFC Consulting Limited (a Wholly Owned Subsidiary of Power Finance Corporation Limited) viz. Chhattisgarh-WR Transmission Limited for System Strengthening for IPPs in Chhattisgarh and other Generation Projects in Western Region, Sipat Transmission Limited for Additional System Strengthening for Sipat STPS and Raipur-Rajnandgaon-Warora Transmission Limited Additional System Strengthening Scheme for Chhattisgarh IPPs (Part-B). The company has acquired these three companies from PFC Consulting Limited (PFCCL) pursuant to competitive bidding process carried out by PFCCL. With these new acquisitions and upon completion of these projects, ATL's transmission network will increase from 5051 Ckt Km to 6435 Ckt Km.
On 8 July 2016, Adani Transmission announced that it has acquired 100% equity share capital of an SPV company North Karanpura Transco Limited (NKTL), a wholly owned subsidiary of REC Transmission Projects Company Limited (RECTPCL) pursuant to competitive bidding process carried out by RECTPCL. NKTL was incorporated in November 2015 by RECTPCL to establish transmission system for immediate evacuation for North Karanpura generation project of NTPC along with creation of 400/220KV sub-station at Dhanbad, Jharkhand on BOOM basis.
On 26 July 2016, Adani Transmission announced that it has signed a Purchase Agreement with Credit Suisse AG, Singapore branch for its Indian rupee denominated Masala bond of Rs 500 crore with coupon of 9.1%.
On 5 October 2016, Adani Transmission announced the signing of Binding Term Sheet with Reliance Infrastructure Ltd. (R-Infra) to acquire inter-state operational transmission assets viz. 100% stake of Western Region Strengthening System Scheme B (WRSSS B) - around 2089 ckt kms, 100% stake of Western Region Strengthening System Scheme C (WRSSS C) - around 974 ckt kms and 74% shares of R-Infra in Parbati Koldam Transmission Company Limited (PKTCL). PKTCL is a joint venture between R-Infra and Power Grid Corporation of India Limited (PGCIL). R-Infra holds 74% equity stake and PGCIL holds 26% equity stake in the company - around 458 ckt kms. On 7 December 2016, Adani Transmission announced that it has executed Share Purchase Agreement (SPA) with R-Infra for acquisition of R-Infra's WRSSS transmission assets of approximately 3100 ckt kms.
On 7 October 2016, Adani Transmission Ltd (ATL) announced the acquisition of 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL). While payment has been made for 100% stake in both the companies, the remaining stake in both the companies will be transferred to ATL in a manner consistent with the Transmission Service Agreement. This acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic growth. Earlier, on 1 July 2016, Adani Transmission announced that it has signed definitive agreement with GMR Energy Ltd. to acquire 74% Equity Shares of Maru Transmission Service Company Limited (MTSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. On the same, it also announced signing definitive agreement with GMR Energy Ltd. to acquire 49% Equity Shares of Aravali Transmission Service Company Limited (ATSCL) with an option to acquire 100% in a manner consistent with Transmission Service Agreement and applicable consents. MTSCL operates 400 KV S/C Bikaner-Deedwana transmission line and 2X315 MVA, 400/220 KV grid sub-station at Deedwana and other associated works in Rajasthan. ATSCL operates 400 KV S/C Hinduan-Alwar transmission line and 2X315 MVA, 400/220 KV grid sub-station at Alwar and other associated works in Rajasthan.
On 3 April 2017, Adani Transmission Ltd (ATL) announced that it has received the 3 LOIs from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company Limited (PPP-8), Barmer Transmission Company Limited (PPP 9), and Thar Transmission Company Limited (PPP-10) collectively have approximately 350 Ckt kms of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. These assets were awarded through a Tariff Based Competitive Bidding Process. With these Projects, ATL will strengthen its existing significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company Ltd) and Suratgarh Bikaner project, which is under construction.
On 5 August 2017, Adani Transmission Ltd (ATL) announced that the company has acquired 100% equity share capital of two SPV companies namely, Barmer Power Transmission Service Limited (BPTSL) and Thar Power Transmission Service Limited (TPTSL), from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 4 August 2017 pursuant to competitive bidding process carried out by RVPN. These two SPV companies were incorporated in June 2016 by RVPN for development of 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.
On 14 August 2017, Adani Transmission Ltd (ATL) announced that it has acquired 100% equity share capital of SPV company namely, Hadoti Power Transmission Service Limited (HPTSL), from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPN) on 11 August 2017 pursuant to competitive bidding process carried out by RVPN. HPTSL was incorporated in May 2016 by RVPN for development of 220 KV and 132 KV grid sub-stations along with associated transmission lines and associated schemes/works on PPP mode.
On 1 November 2017, Adani Transmission Ltd (ATL) announced that it has completed the acquisition of 100% stake of Western Region Transmission Maharashtra (WRTM) project and Western Region Transmission Gujarat (WRTG) project, having operational transmission lines aggregating 3063 ckt kms with deal valued at about Rs 1000 crore. With these acquisitions, ATL attains a new milestone of 8500 ckt kms of transmission lines in operation.
On 21 December 2017, Adani Transmission (ATL) announced that it has signed a binding Share Purchase Agreement (SPA) to acquire the Mumbai Generation, Transmission and Distribution (GTD) business from Reliance Infrastructure. Adani Transmission has valued the business at a total consideration of Rs 12101 crore. In addition the Regulatory Assets approved to the extent of Rs 1150 crore for the period 1 April 2018 to 31 March 2019 will be to the account of the Seller. The GTD business caters to about 3 million customers, making it the country's largest private sector integrated power utility, entailing about 1,892 MW of power distribution along with generation facilities (500 MW thermal coal based) and over 540 ckt kms of transmission network. The proposed transaction will mark ATL's foray into distribution space and also strengthen Adani Transmission's footprint in the power transmission sector. With this acquisition, apart from largest distribution network, the cumulative transmission network of ATL will reach around 12000 ckt kms, out of which approximate 9540 ckt kms are under operation (including about 1000 ckt kms under process of acquisition) and approximate 2350 ckt kms under various stages of construction. The transformation capacity of ATL will increase to 19,200 MVA from 36 substations (Including 8 EHV Substations under acquisition) spread across the country.
On 15 March 2018, Adani Transmission (ATL) announced that it has acquired 100% equity share capital of Fatehgarh-Bhadla Transmission Limited (FBTL) from PFC Consulting Limited (PFCCL) on 14 March 2018 pursuant to tariff based competitive bidding process carried out by PFCCL. FBTL was incorporated in December 2016 by PFCCL to establish transmission system for Ultra Mega Solar Park in Fatehgarh, District Jaisalmer, Rajasthan.
In 2019, transmission line of 227 ckt km got operational. The Company had 20 direct subsidiaries as on 31st March 2019. During the year 2019-20, it acquired Bikaner-Khetri Transmission Limited from PFC Consulting Limited. It acquired Lakadia Banaskantha Transco Limited, Jam Khambaliya Transco Limited and WRSS XXI (A) Transco Limited from REC Transmission Projects Company Limited. Apart from acquisitions, it incorporated Arasan Infra Private Limited and Sunrays Infra Space Private Limited as a wholly-owned subsidiary Company. Adani Electricity Mumbai Services Limited was incorporated as a wholly-owned subsidiary Company, name of which changed to Power Distribution Services Limited subsequently w.e.f. 2nd January 2020. Adani Electricity Mumbai Infra Limited was
incorporated as a wholly-owned subsidiary Company of Adani Electricity Mumbai Limited a material subsidiary of the Company, which increased the subsidiaries to 28 as on 31st March 2020. The Company had signed the Share Purchase Agreement in December 2019 with Adani Electricity Mumbai Limited (AEML), a material subsidiary company and Qatar Holdings LLC (Investor), and acquired 25.1% equity shares of the AEML with effect from 10th February 2020.
The Company had 28 direct subsidiaries as on 31st March, 2020. It acquired Kharghar Vikhroli Transmission Private Limited from Maharashtra State Electricity Transmission Company Limited. It acquired Alipurduar Transmission Limited from Kalpataru Power
Transmission Company. It incorporated Adani Transmission Step-One Limited as a wholly owned subsidiary Company. It incorporated AEML SEEPZ Limited as a wholly owned subsidiary Company of Adani Electricity Mumbai Limited, which is a material subsidiary of the Company. With this, the e total number of subsidiaries as on 31st March, 2021 was 33.
The Company had ~13,027 ckt km of operational transmission lines and around 18,455 MVA of power transformation capacity as on 31st March, 2021. The Company had 33 subsidiaries in year 2021. During year 2021, Company acquired Warora Kurnool Transmission Limited from Essel Infraprojects Ltd. in Maharashtra, Andhra Pradesh and Telangana. It acquired Reliance Infrastructure's integrated utility comprising generation, transmission and retail electricity distribution (Adani Electricity Mumbai Limited). It acquired MPSEZ Utilities Limited (MUL) from Adani Ports and Special Economic Zone Limited (APSEZ). It acquired MP Power Transmission Package-II Limited from REC Power Development and Consultancy Limited (formerly known as REC Power Distribution Company Limited). It acquired Khavda-Bhuj Transmission Limited and Karur Transmission Limited from PFC Consulting Limited respectively. It incorporated ATL HVDC Limited as a wholly owned subsidiary company, which increased the number of Subsidiaries to 38 as on 31st March 2022.
During the year 2023, Company acquired two companies, WRSR Power Transmission Limited and Khavda II-A Transmission Limited. ATL commissioned Green Energy Corridor-II Projects. The Company commissioned 765 kV D/C Lakadia-Banaskanta Line adding new 352 CKM to transmission network. It commissioned Transmission System for Jam Khambaliya Pooling Station and Interconnection of Jam Khambaliya Pooling Station for Providing Connectivity to RE Projects (1500 MW) in Dwarka (Gujarat) and Installation of 400/220 kV ICT along with Associated Bays at CGPL Switchyard. Jam Khambhaliya Pooling Station became operational for providing connectivity to RE projects with transformation capacity of 2000 MVA. It established a 765/400 kV Lakadia PS with transformation capacity of 3000 MVA. It installed 400/220 kV ICT along with Associated Bays at CGPL Switchyard adding 500 MVA to transformation capacity.