Adani Energy Solutions Ltd, formerly known as Adani Transmission Ltd, is an

electric power transmission Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines that facilitate this movement form a ''transmission network''. This is ...

company headquartered in

Ahmedabad Ahmedabad ( ; Gujarati: Amdavad ) is the most populous city in the Indian state of Gujarat. It is the administrative headquarters of the Ahmedabad district and the seat of the Gujarat High Court. Ahmedabad's population of 5,570,585 (per t ...

. Currently, it is one of the largest private sector power transmission companies operating in India. 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.

History

Adani Transmission was founded by

Gautam Adani Gautam Shantilal Adani (born 24 June 1962) is an Indian billionaire industrialist who is the chairman and founder of Adani Group, a multinational conglomerate involved in port development and operations in India. He is also the president of Ad ...

in December 2015 after separating the decade-old transmission business from

Adani Enterprises Adani Enterprises Limited is an Indian multinational publicly listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsidiari ...

. 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 Mundra Thermal Power Station is located at Mundra in Kutch district in the Indian state of Gujarat. The power plant is one of the coal-based power plants of Adani Power. The coal for the power plant is imported primarily from Bunyu, Indonesia. S ...

, connecting

Mundra Mundra is a census town and a headquarter of Mundra Taluka of Kutch district in the Indian state of Gujarat. Founded in about the 1640s, the town was an important mercantile centre and port throughout its history. Mundra Port is the largest pr ...

–

Dehgam Dahegam is a city and a municipality in Gandhinagar district in the state of Gujarat, India. History During 1257 AD, Gujarat was under the Khilji dynasty. Jafar Khan of the Tughlak dynasty had overpowered King Ram Ray Rathod of Idar. The Mugha ...

–Mohindergarh and

Tirora Tirora is a city and a municipal council in Gondia district of Maharashtra, India. Demographics India census, Tirora had a population of 25,181. Males constitute 50% of the population and females 50%. Tirora has an average literacy rate ...

–

Warora Warora is a city and municipal council in Chandrapur district in the Indian state of Maharashtra. During the British Raj, the town was part of the Central Provinces and was a coal-mining center. The work place of famous social worker Baba Amt ...

. In July 2023, the company was renamed to Adani Energy Solutions to better reflect its suite of products and services.

Mergers and acquisitions

In 2015, ATL acquired three wholly owned subsidiaries of PFC Consulting, which itself is a subsidiary of

Power Finance Corporation Power Finance Corporation Ltd. (P. F. C.) is an Indian central public sector undertaking under the ownership of the Ministry of Power, Government of India. Established in 1986, it is the financial backbone of Indian power sector. PFC's net ...

– the

Chhattisgarh Chhattisgarh (, ) is a landlocked state in Central India. It is the ninth largest state by area, and with a population of roughly 30 million, the seventeenth most populous. It borders seven states – Uttar Pradesh to the north, Madhya Prade ...

-WR transmission line,

Sipat Sipat is a small developing town approximately from Bilaspur, the second largest city in the Indian state of Chhattisgarh. It has been in the news due to the development of a new power plant by NTPC Limited in that area. The project was start ...

transmission line connecting with

Sipat Thermal Power Station Sipat Super Thermal Power Station is located at Sipat in Bilaspur district in state of Chhattisgarh. The power plant is one of the coal based power plants of NTPC. The coal for the power plant is sourced from Dipika Mines of South Eastern Coalfi ...

and

Raipur Raipur ( ) is the capital city of the Indian state of Chhattisgarh. Raipur is also the administrative headquarters of Raipur district and Raipur division, and the largest city of the state. It was a part of Madhya Pradesh before the state of Chh ...

Rajnandgaon Rajnandgaon is a city in Rajnandgaon District, in the state of Chhattisgarh, India. the population of the city was 163,122. Rajnandgaon district came into existence on 26January 1973, as a result of the division of Durg district. History O ...

transmission line. In 2016, ATL further acquired the

GMR Group GMR Group is an Indian multinational conglomerate headquartered in New Delhi. The group was founded in 1978 by Grandhi Mallikarjuna Rao (G M Rao) and comprises several companies including GMR Infrastructure, GMR Energy, GMR Airports, GMR Ent ...

’s transmission assets in the state of

Rajasthan Rajasthan (; lit. 'Land of Kings') is a state in northern India. It covers or 10.4 per cent of India's total geographical area. It is the largest Indian state by area and the seventh largest by population. It is on India's northwestern si ...

— the Maru Transmission Services Ltd (MTSL) and Aaravalli Transmission Services Ltd (ATSL). In the same year, the company also acquired

Reliance Infrastructure Reliance Infrastructure Limited (R-Infra), formerly Reliance Energy Limited (REL) and Bombay Suburban Electric Supply (BSES), is an Indian private sector enterprise involved in power generation, infrastructure, construction and defence. It is p ...

's transmission assets of the Western Region System Strengthening Scheme (WRSSS). 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. In March 2018, the shareholders of Reliance Infrastructure approved the sale of its power business for Rs. 18,800 crore to Adani Transmission Limited. 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 Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

. In February 2019, ATL acquired

KEC International KEC International Limited (Kamani Engineering Corporation) is an India, Indian multinational company and also India's second largest manufacturer of electric power transmission towers and one of the largest Power transmission, Engineering, Pro ...

Bikaner Bikaner () is a city in the northwest of the state of Rajasthan, India. It is located northwest of the state capital, Jaipur. Bikaner city is the administrative headquarters of Bikaner District and Bikaner division. Formerly the capital of ...

Sikar Sikar is a city and municipal council in the Sikar district of the state of Rajasthan in India. It is the administrative headquarters of the Sikar district. It is part of the Shekhawati region, which consists of Sikar, Churu and Jhunjhunu.Sik ...

transmission asset in

. In September of the same year, the company acquired PFC Consulting's

Khetri Khetri Nagar is the town in Jhunjhunu district of Rajasthan in India. It is a part of the Shekhawati region. Khetri consists of two towns, "Khetri Town" founded by Raja Khet Singhji Nirwan and "Khetri Nagar" which is about 10 km away from ...

transmission project in Rajasthan. In July 2020, the company signed definitive agreements with Kalpataru Power Transmission (KPTL) for acquiring Alipurduar Transmission. adding 650 circuit kilometers in its network from the state of

Bihar Bihar (; ) is a state in eastern India. It is the 2nd largest state by population in 2019, 12th largest by area of , and 14th largest by GDP in 2021. Bihar borders Uttar Pradesh to its west, Nepal to the north, the northern part of West Be ...

and

West Bengal West Bengal (, Bengali: ''Poshchim Bongo'', , abbr. WB) is a state in the eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabitants within an area of . West Bengal is the fourt ...

Controversies

Allegations of stock manipulation

In January 2023,

Hindenburg Research Hindenburg Research LLC is an investment research firm with a focus on activist short-selling founded by Nathan Anderson in 2017 and based in New York City. Named after the 1937 Hindenburg disaster, which they characterize as a human-made avoidab ...

published the findings of a two-year investigation claiming that Adani had engaged in

market manipulation In economics and finance, market manipulation is a type of market abuse where there is a deliberate attempt to interfere with the free and fair operation of the market; the most blatant of cases involve creating false or misleading appearances ...

and accounting malpractices; Hindenburg also disclosed that it was holding short positions on Adani Group companies. Bonds and shares of companies associated with Adani experienced a decline in value after the accusations. Adani denied the fraud allegations as unfounded and ill intentioned.

References

External links

* {{Nifty 200 companies Converter stations Electric power transmission infrastructure in India Companies based in Ahmedabad Electric power transmission system operators in India Adani Group Utilities of India 2015 establishments in Gujarat Indian companies established in 2015 Energy companies established in 2015 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange