Adani Energy Solutions (formerly Adani Transmission) shares will be in the spotlight on Tuesday morning when the business commissioned the Khargar-Vikhroli transmission line, completing Mumbai’s 400 KV national grid integration. On Monday, the business informed exchanges of the same. Kharghar Vikhroli Transmission Limited (KVTL) will allow more power to be transported into Mumbai, assisting in fulfilling the city’s rising and future electrical demand. “The project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry further power into the city,” stated the statement. Adani Energy Solutions (AES) is the Adani Group’s energy solution, transmission, and distribution arm led by Gautam Adani.
The company is the largest private transmission player in the country, with a total network of 18,875 circuit kilometers, 14,279 of which are operating and 4,596 in various phases of construction. KVTL consists of roughly 74 circuit kilometers of 400 kV and 220 kV transmission lines, as well as a 1,500 MVA 400kV Gas Insulated Substation (GIS) at Vikhroli, Mumbai’s first 400KV substation of its sort, with an area of around 9,500 square meters, according to the filing.
Adani Energy Solutions
According to Adani Energy, the project includes six towers on creeks and special horizontal towers in metropolitan areas, which will give much-needed redundancy and stability to power supply. The line sat idle for more than a decade until being allocated to Adani through bidding in 2021. Adani Energy Solutions’ shares closed at Rs 809 on Friday, down 3%. It has a total market capitalization of around Rs 90,000 crore. The stock has dropped 78% from its 52-week high of Rs 3,755.25 in September 2022. It has fallen to Rs 630 after the US-based short seller Hindenburg Research issued a damning report on the Adani group.