Gautam Adani's Adani Energy Solutions wins ₹4,700 crore transmission project in Maharashtra | shares rise

Gautam Adani-owned Adani Energy Solutions shares saw strong buying interest after news broke that an Adani Group company had won a transmission project in Maharashtra. The Adani Group company informed the Indian stock market exchanges about the development on Wednesday and said that the net worth of the project is ₹4,700 crore, to facilitate the evacuation of up to 4.5 GW of pumped storage potential in Maharashtra and to strengthen the inter-regional transmission corridor between the Western and Southern grids. It includes the establishment of a 765/400 KV substation at Satara, the Kolhapur-Satara 765 kV double-circuit transmission line, and the augmentation of the Kolhapur pooling station, along with associated transmission infrastructure.

Gautam Adani-owned company informed about the development, saying, “Adani Energy Solutions Ltd. (AESL) today won a key transmission project for the evacuation of renewable energy generated in Karnataka to major load centres in Maharashtra. The project, which entails an estimated capital expenditure of ~ ₹4,700 crore, will also support the growing pumped storage ecosystem in the Satara, Pune and Mumbai Metropolitan Region (MMR).”

Adani Energy Solutions shares rise

After the news, Adani Energy Solutions shares saw strong buying at lower levels, surging to an intraday high of ₹1,634.90 per share from an intraday low of ₹1,588.80 per share on the NSE. While climbing to this intraday high, Adani Group stock came close to its 52-week high of ₹1,789, which is a lifetime high as well.

Speaking on the project win, Kandarp Patel, CEO at Adani Energy Solutions Ltd, said, “Pumped storage projects are emerging as a critical enabler of India's clean energy transition by providing the flexibility and reliability required to integrate large-scale renewable energy into the grid. The Satara transmission project will create a vital transmission backbone to support both renewable energy evacuation and energy storage deployment, strengthening power flows between Southern and Western India. AESL remains committed to building future-ready transmission infrastructure that enables renewable energy growth, enhances grid stability and supports India's long-term decarbonisation goals.”

The project, called "Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4500 MW) - Part A", was awarded through the Tariff-Based Competitive Bidding (TBCB) process, with AESL emerging as the lowest bidder.

Housed under Special Purpose Vehicle (SPV) Satara Power Transmission Ltd., the project will be delivered to the nation within 36 months. It will add 562 circuit kilometres (ckm) of transmission lines and 9,000 MVA of transformation capacity to AESL’s portfolio, taking its cumulative transmission network to 29,739 ckm and 1,43,425 MVA transformation capacity.

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