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Adani Energy Solutions

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Adani Transmission Limited
Company typePublic
BSE: 539254
NSE: ADANITRANS
ISININE931S01010
IndustryElectric utility
Founded9 December 2013 (9 December 2013)
FounderGautam Adani
Headquarters
Shantigram, Khodiyar, Ahmedabad
,
India
Key people
Gautam Adani
(Chairman)
Anil Sardana
(CEO)
Rohit Soni
(CFO)
Jaladhi Shukhla
(Company Secretary)[1]
ProductsElectricity transmission and distribution
Revenue₹755.23 crore (US$90 million) [2] (2021)
₹1,434.66 crore (US$170 million) (2021)
Decrease ₹−21.21 crore (US$−2.5 million) (2021)
Total assets₹39,711 crore (US$4.8 billion) (2020)
Total equity₹4,119 crore (US$490 million) (2020)
Number of employees
11,980 (2020)
ParentAdani Group
SubsidiariesAdani Electricity Mumbai Limited
Websitewww.adanitransmission.com

Adani Transmission Limited (NSE: ADANITRANS, BSE: 539254) is an electric power transmission company headquartered in Ahmedabad, India.[3] Currently, it is one of the largest private sector power transmission companies operating in India.[4][5]

As of July 2020, the company operates a cumulative network of 12,200 circuit kilometers, and more than 3,200 circuit kilometers are under various stages of construction.[6][7] 

History

Adani Transmission was founded by Gautam Adani in December 2015 after separating the decade-old transmission business from Adani Enterprises.[3] At the time of the founding, the company became the primary custodian for more than 3800 circuit kilometers of transmission lines originating from the Mundra Thermal Power Station, connecting Mundra–Dehgam, Mundra–Mohindergarh and Tirora–Warora.

Mergers & acquisitions

In 2015, ATL acquired three wholly owned subsidiaries of PFC Consulting, which itself is a subsidiary of Power Finance Corporation – the Chhattisgarh-WR transmission line, Sipat transmission line connecting with Sipat Thermal Power Station and Raipur-Rajnandgaon-Warora transmission line.[8]

In 2016, ATL further acquired the GMR Group’s transmission assets in the state of Rajasthan — the Maru Transmission Services Ltd (MTSL) and Aaravalli Transmission Services Ltd (ATSL).[9] In the same year, the company also acquired Reliance Infrastructure's transmission assets of the Western Region System Strengthening Scheme (WRSSS).[10]

In December 2017, the company obtained a share purchase agreement (SPA) for the acquisition of the Mumbai Generation Transmission & Distribution (GTD) business from Reliance Infrastructure.[11][12] In March 2018, the shareholders of Reliance Infrastructure approved the sale of its power business for Rs. 18,800 crore to Adani Transmission Limited.[13][14] This resulted in the founding of Adani Mumbai Electricity Limited, a 100% wholly owned subsidiary of ATL which currently serves more than 3 million consumers across a license area of approximately 400 square kilometers in the city of Mumbai.[15]

In February 2019, ATL acquired KEC International's Bikaner-Sikar transmission asset in Rajasthan.[16][17][18][19] In September of the same year, the company acquired PFC Consulting's Bikaner-Khetri transmission project in Rajasthan.[20][21][22]

In July 2020, the company signed definitive agreements with Kalpataru Power Transmission (KPTL) for acquiring Alipurduar Transmission.[23][24][7][25] adding 650 circuit kilometers in its network from the state of Bihar and West Bengal.[6]

References

  1. ^ "Adani Transmission". WSJ.
  2. ^ "Stock share price of Adani Transmission". BSE India.
  3. ^ a b "Adani Transmission Ltd". Business Standard India. Retrieved 2020-11-27.
  4. ^ Linking Up: Public-Private Partnerships in Power Transmission in Africa (PDF). Washington DC: World Bank. 2017. p. 83.
  5. ^ "Adani Transmission Receives LOI for Transmission Project in Maharashtra". www.saurenergy.com. Retrieved 2020-11-27.
  6. ^ a b "Adanis buy power asset in Bengal". www.telegraphindia.com. Retrieved 2020-11-27.
  7. ^ a b "Adani Transmission to acquire Alipurduar Transmission from Kalpataru". The Hindu. Special Correspondent. 2020-07-06. ISSN 0971-751X. Retrieved 2020-11-27.{{cite news}}: CS1 maint: others (link)
  8. ^ "Adani Transmission acquires three subsidiaries from PFC Consulting". www.indiainfoline.com. Retrieved 2020-11-27.
  9. ^ Bureaus, Our. "Adani inks agreement to acquire stake in GMR Energy's transmission projects". @businessline. Retrieved 2020-11-27.
  10. ^ Bureau, Our. "Adani arm completes buy of RInfra's western region transmission assets". @businessline. Retrieved 2020-11-27. {{cite web}}: |last= has generic name (help)
  11. ^ Dutta, Sanjay (December 22, 2017). "Reliance Energy: Adani acquires Mumbai business of debt-hit Reliance Energy for Rs 19,000 crore - Times of India". The Times of India. Retrieved 2020-11-27.
  12. ^ "Adanis buy Reliance Infrastructure's Mumbai power business". The Economic Times. Retrieved 2020-11-27.
  13. ^ "Reliance Infra's sale of Mumbai power ops to Adani gets regulatory nod". The Economic Times. Retrieved 2020-11-27.
  14. ^ "Reliance Infrastructure to sell Mumbai power business to Adani Transmission for Rs 18,800 crore". The Economic Times. Retrieved 2020-11-27.
  15. ^ "Adani takes over Reliance Infrastructure's Mumbai energy business for Rs 18,800 crore". The New Indian Express. Retrieved 2020-11-27.
  16. ^ Singh, Sarita C. "Adani Transmission completes acquisition of KEC International's project for Rs 228 crore". The Economic Times. Retrieved 2020-11-27.
  17. ^ Bureau, Our. "KEC International completes transmission asset sale to Adani for ₹227 crore". @businessline. Retrieved 2020-11-27. {{cite web}}: |last= has generic name (help)
  18. ^ PTI (2018-11-05). "Adani arm to buy KEC International's power transmission unit". mint. Retrieved 2020-11-27.
  19. ^ Umarji, Vinay (2019-02-08). "Adani closes KEC's Transmission asset acquisition deal, buys 100% stake". Business Standard India. Retrieved 2020-11-27.
  20. ^ "Energy News Monitor | Volume XVI; Issue 16". ORF. Retrieved 2020-11-27.
  21. ^ www.ETEnergyworld.com. "Adani Transmission acquires Bikaner-Khetri project in Rajasthan - ET EnergyWorld". ETEnergyworld.com. Retrieved 2020-11-27.
  22. ^ "Adani Transmission acquires Bikaner-Khetri project in Rajasthan". Moneycontrol. Retrieved 2020-11-27.
  23. ^ Pillay, Amritha (2020-07-06). "Adani Transmission to buy Kalpataru's transmission asset for Rs 1,286 cr". Business Standard India. Retrieved 2020-11-27.
  24. ^ "Adani Transmission inks pact with KPTL to buy Alipurduar Transmission". The New Indian Express. Retrieved 2020-11-27.
  25. ^ PTI. "Adani Transmission inks pact with Kalpataru Power to buy Alipurduar Transmission". @businessline. Retrieved 2020-11-27.
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