Starting the fiscal year on a high note, Adani Energy Solutions Limited (AESL) has obtained a Rs 2,800 crore green hydrogen-linked transmission project in Gujarat, reinforcing its role as a leader in India’s renewable energy transition.
The venture supports the burgeoning Green Hydrogen and Green Ammonia hub in Mundra, highlighting India’s escalating commitment to cleaner energy alternatives.
According to the recent announcement, AESL successfully signed a Share Purchase Agreement with PFC Consulting Limited, culminating in the acquisition of 100% equity in Mundra I Transmission Limited (MITL). This special purpose vehicle (SPV) will be the cornerstone of this project, tasked with completing the transmission network expansion within 36 months—a significant infrastructure upgrade likely to enhance both AESL’s profile and India’s energy grid.
The project, aptly named “Transmission System for Green Hydrogen/Ammonia Manufacturing Potential in Mundra, Gujarat,” signifies an important infrastructural milestone. It includes upgrading the existing Navinal (Mundra) substation with highly powerful 765/400kV transformers and laying a 75 km double-circuit transmission line. This line connects Navinal to Bhuj, adding 150 cKM of new transmission capacity and 3,000 MVA to AESL’s total network. These enhancements bring AESL’s cumulative transmission line to 25,928 cKM, a substantial expansion indicative of India’s push towards renewable resources.
This marks AESL’s sixth major contract this fiscal year, pushing its aggregate order book value to a Rs 57,561 crore. Such strategic acquisition aligns perfectly with the company’s growth objectives, both through organic expansion and targeted acquisitions. The acquisition strategy has placed AESL at the forefront of India’s energy infrastructure sector, setting a benchmark in sustainable and reliable power solutions catering to the emergent green production domain.
Incorporated recently in December 2024, Mundra I Transmission Limited was specifically constituted to implement this ambitious project. AESL’s acquisition of the SPV at a nominal value of Rs 10 per share grants it full operational control, ensuring strategic alignment with its visionary growth agenda.
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