Ahmedabad, March 27 (IANS). Adani Energy Solutions Limited (AESL) on Thursday announced the Share Purchase Agreement (SPA) with REC Power Development and Consultancy Limited (RECPDCL) for the acquisition of 100 percent equity shares of Mahan Transmission Limited (MTL).
In the stock exchange filing, the company said that MTL will send 1,230 MW of electricity to the state grid from the upcoming 1,600 MW units of Adi Power Limited in the Great of Singrauli district of Madhya Pradesh.
Equity shares of great transmission will be acquired at a face value of Rs 10 per share.
The stock of Adani Energy Solutions closed at Rs 870 on Thursday at Rs 870.
Under the tariff -based competitive bid structure, Adani Energy Solutions emerged as a successful developer of the scheme, in which RECPDCL is working as coordinator of the bidding process. RECPDCL is a subsidiary of government -owned REC Limited.
Recently, AESL achieved a power transmission project of Rs 2,800 crore in Gujarat.
India’s largest private transmission and distribution company said that the project would be assigned to the country in 36 months, which would supply green electrons for the manufacture of green hydrogen and green ammonia in Mundra.
Adaani Group company has received this sixth order in this financial year, due to which the order book of the company has increased to Rs 57,561 crore. The project also includes upgrading two large 765/400 KV transformers and upgrading the new power substation.
Adani Energy Solutions Limited is the country’s largest private transmission company, which has a transmission network of 25,928 CKM and a transformation capacity of 87,186 MVA.
Additionally, AESL is also present in the retail power distribution sector. It serves around 1.3 crore consumers at Mumbai and Industrial Center Mundra SEZ.
At the same time, the company is also increasing its smart metering business and is on the way to become India’s leading smart metering integrator.
-IANS
ABS/ABM
