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Adani Energy Solutions’ subsidiary, Adani Electricity Mumbai (AEML), is pursuing an over $1-billion capex programme, which includes adding two transmission lines of 2000MW capacity in Mumbai and Thane, while doubling its share of renewable energy to 60 per cent by 2025.
The capex programme is envisaged over the next 3-4 years, and apart from capacity addition, it includes smart meters, installation of rooftop solar panels, and electric vehicle charging stations. AEML, which contributes over 70 per cent to the revenues of Adani Energy and Mumbai’s energy demand, is set to go up to 5000 MW by FY25.
Funding will be provided by a revolving credit line from banks, besides a $2-billion global medium-term note programme in place specifically for AEML. Adani Energy Solutions also plans to raise about Rs 8,500 crore through a qualified institutional placement.
The two new transmission lines will run from Thane to Aarey, and from Kharghar to Vikhroli, sources said.
Also read: Adani Green Energy tying up funds over $1 billion with international banks
The Kharghar-Vikhroli transmission project is a 400 kV, 2,000 MW underground transmission line that will connect the Kharghar substation in Navi Mumbai to the Vikhroli substation in Mumbai, and provide interrupted power supply to the city suburbs.
AEML, which distributes power in Mumbai, supplied over 2000 MW of electricity in FY23. It has a distribution network covering over 400 square km and serves over 12 million consumers in Mumbai and Thane districts.
Recently, it tied up an over $700-million credit line with about nine international banks for a high voltage 1000MW direct current line in Mumbai, which is scheduled to start in a couple of months. The 80-km-long transmission line from Kudus to Aarey, has the capacity to evacuate 1000 MW of power.
In the power generation segment, it is adding about 700MW of solar and wind power capacity that would be operational in the next three-four years. Currently, it has a 30 MW capacity in rooftop installations.
It plans to install 27 lakh smart meters in the city and suburbs by FY25, of which 4.3 lakh are already operational.
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