Adani Energy Boosts Power Network with Strategic Acquisitions

Adani Energy Solutions Ltd has acquired Jamnagar Transmission Ltd and Navinal Transmission Ltd from PFC Consulting Ltd for approximately Rs 38 crore. These acquisitions are part of network expansion schemes in Gujarat, aiming to manage increased power loads, including from bulk consumers and green hydrogen initiatives.

Adani Energy Solutions Ltd (AESL) announced on Tuesday the acquisition of two project-specific vehicles from PFC Consulting Ltd for a total of Rs 38 crore.

AESL disclosed in its BSE filings that on October 14, 2024, it secured full equity ownership of both Jamnagar Transmission Ltd and Navinal Transmission Ltd through share purchase agreements.

The acquisitions are pivotal for expanding power network capabilities in Gujarat, supporting demands of up to 3.6 GW in Jamnagar and 4.5 GW in Mundra, including significant contributions from green hydrogen initiatives.

(With inputs from agencies.)