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Adani Energy Solutions wins ₹4,700 crore transmission project in Maharashtra
The project will support the evacuation of up to 4,500 MW of renewable and storage power and includes a 765/400 KV substation at Satara.
Gautam Adani-owned Adani Energy Solutions has won a ₹4,700 crore transmission project in Maharashtra aimed at evacuating up to 4,500 MW of renewable and storage power, LiveMint Markets reports. The company said the project will also strengthen the inter-regional transmission corridor between India’s Western and Southern grids.
Adani Energy Solutions told exchanges the work involves building a 765/400 KV substation at Satara, adding a Kolhapur-Satara 765 kV double-circuit transmission line, and augmenting the Kolhapur pooling station, along with related transmission infrastructure. The company also said the project will support the pumped storage ecosystem in the Satara, Pune, and Mumbai Metropolitan Region.
Following the disclosure, Adani Energy Solutions shares saw strong buying on the National Stock Exchange, opening with an upside gap and reaching an intraday high of ₹1,634.90 from an intraday low of ₹1,588.80. The stock also moved close to its 52-week high of ₹1,789.
Adani Energy Solutions CEO Kandarp Patel said pumped storage is emerging as a key enabler of India’s clean energy transition by providing flexibility and reliability for integrating large-scale renewables into the grid, according to the report. Patel added that the Satara transmission project is intended to create a transmission backbone to support renewable energy evacuation and energy storage deployment.