Adani Energy Solutions Inks Deal for Pune-III Transmission Expansion

Adani Energy Solutions Ltd has signed an agreement with PFC Consulting Ltd to acquire Pune-III Transmission Ltd. The project involves the construction of new substations and transmission lines to facilitate renewable energy evacuation from Khavda RE Park, enhancing shareholder value through strategic growth.

Adani Energy Solutions Ltd (AESL) has announced a significant development by signing an agreement with PFC Consulting Ltd for the acquisition of Pune-III Transmission Ltd. This move is a part of AESL's strategy to expand its transmission infrastructure and support renewable energy initiatives.

The Pune-III Transmission Limited projects are set to include the establishment of new substations and an extensive transmission line of 816 ckm, according to a regulatory filing. These projects will aim to evacuate 7 GW of renewable energy from Khavda RE Park in Gujarat, under the Phase IV Part D package.

AESL's acquisition is aligned with its growth strategy, aiming to enhance value for its shareholders through both organic and inorganic opportunities. The equity shares of Pune-III Transmission Ltd will be acquired at a face value of Rs 10 each, marking a strategic addition to AESL's portfolio.

(With inputs from agencies.)