Adani Energy Solutions wins Rs 2,800 crore project in Gujarat

Adani Energy Solutions Ltd (AESL) has won a major power transmission project in Gujarat worth Rs 2,800 crore. This victory boosts AESL's total order book to Rs 57,561 crore. The project will support the production of Green Hydrogen and Green Ammonia. The project includes important upgrades to the existing infrastructure. It will enhance the Navinal electrical substation in Mundra by adding two large transformers. A new 75 km double-circuit line will also be built to link the substation to Bhuj. In total, the project will add 150 circuit kilometers of transmission lines and increase the transformation capacity by 3,000 MVA. This expansion will grow AESL's network to 25,928 cKM and 87,186 MVA. The project was won through a competitive bidding process overseen by PFC Consulting Ltd. This is the sixth project AESL has won this fiscal year. Adani Energy, part of the Adani Group, is the largest private transmission company in India. However, its shares have faced challenges, falling 18% in the past year and down 65% over the last three years. The company's performance has lagged behind key market indexes and its industry peers.