Adani Electricity

The decision of scrapping the tender has been taken by the Tamil Nadu Generation and Distribution Corporation

MSCI index rebalancing: Adani Energy Solutions has been issued a show cause notice by the Securities Exchange Board of India (Sebi) for potential wrongful categorisation of shareholding

Battle for high-value customers heats up amid increased EV penetration

For Adani Electricity, the agency expects its ability to generate operating cash flow compared to its debt to improve to above 10% in fiscal 2024 and 2025

Adani Electricity supplied 100% renewable energy to its 3 million subscribers in Mumbai for 4 hours on Diwali

Adani Energy Solutions' arm Adnai Electricity Mumbai has announced a tender offer to buybuy part of its outstanding senior secured notes worth USD 120 million, which are due in 2030. "The distribution arm of Adani Energy Solutions Ltd, Adani Electricity Mumbai Limited, today announced a tender offer to buyback up to USD 120 million of its outstanding 3.949% USD 1,000 million senior secured notes due 2030," a company statement said on Monday. The tender offer is being fully funded through its cash surplus and internal accruals and will help reduce the leverage of the company in line with the Adani portfolio companies to consistently improve financial matrices, it said. The company will from time to time carry out similar market actions all the way to the maturity of the bonds subject to market conditions, using the available liquidity of the company. Such market action will enhance investor confidence and support in improving current dislocation of the yield curve due to external .

Power utility company Adani Electricity on Monday said it relied completely on renewable sources for supply of power to Mumbai for four hours on Diwali day. Adani Electricity supplied 1,200 MW of power from renewable sources to its 3 million subscribers between 10 AM and 2 PM, which meant that over 40 per cent of the financial capital's power needs were derived from renewable energy. The peak demand of the financial capital on Sunday morning was over 2,500 MW, which went up to 2,776 MW in the evening. Mumbai is currently struggling to check pollution level and improve air quality. A bulk of the power supplied to the financial capital comes from adjoining areas, while the state authorities have recently asked a rival power generation company to halve the emission of particulate matter from its plant to help reduce pollution. In a statement, Adani Electricity said it had planned the exercise in advance by sourcing power from solar and wind generation. "Achieving 100 per cent renewa

Adani Electricity, BEST undertaking and Tata Power to provide uninterrupted power supply to Navratri/Durga Puja pandals at subsidised residential rates within 48 hours after receiving the applications

By the financial year 2024-25 (FY25), Adani Electricity Mumbai (AEML)'s capacity is set to go up to 5000 MW

Adani Electricity Mumbai is investing over Rs 2,000 crore to build two new transmissions lines in the city to strengthen its network as it moves closer to go more green by sourcing as much as 60 per cent of the energy needed for the city from renewables by 2027, a senior company official said. The two new transmission lines comprise the 84 ckm Kharghar (in Navi Mumbai) Vikhroli line in the northeastern suburb of the megalopolis and the Thane-Aarey Colony line. The Vikhroli line will be ready by 2025. "We hope to begin the work on the project from this October. The Thane line will begin after the first line and will be commissioned in 2027," a senior company official, who did not want to be quoted, told PTI. The company reached financial closure last week by securing Rs 1,700 crore debt from international lenders for the projects being executed by its parent Adani Transmission. "We will be investing more than Rs 2,000 crore for this, of which Rs 1,700 crore will be debt-funded," the

There were over 18,542 raids in FY23 as against 10,458 in FY22, while the irregularity assessed went up to Rs 38.48 crore in FY23 from Rs 21.75 crore in the year-ago period

On May 13, two Adani Group companies, Adani Enterprises and Adani Transmission, received the approval of the board to raise Rs 12,500 crore and Rs 8,500 crore, respectively

Renewables accounted for 30% of power procurement for Adani Electricity as of March 31 - a ten-fold jump over the last two years, the company said in a presentation to stock exchanges Wednesday

UP, Bihar, Telangana continue to be laggards

The Gujarat government has paid Rs 16,900 crore to Adani Power and Tata Power for purchasing electricity during the last two years, the state Assembly was informed on Monday. As per the data tabled by Energy Minister Kanubhai Desai during Question Hour, the state government paid Rs 8,160 crore to Adani Power Mundra Ltd while Rs 8,784 was paid to Coastal Gujarat Power Ltd, a wholly owned subsidiary of Tata Power, in 2021 and 2022. While responding to a set of questions raised by Congress MLAs about the purchase of electricity from these private players, Desai said the state government paid Rs 2,760 crore to Adani Power in 2021 to buy 5,589 million units while Rs 5,400 crore was paid to the firm in 2022 for nearly 6,000 million units. In 2021, the state government paid Rs 2,751 crore to Tata Power to buy 7,315 million units, while the cost came to Rs 6,033 crore for 10,446 million units in 2022. The data suggested per unit cost of Rs 2.83 paid to Adani in January 2021 went up to Rs 8

Adani Transmission has incorporated an arm, Adani Electricity Nashik Ltd, for distribution business in the Nashik area. It is aimed at applying parallel distribution license in the city. "The company has incorporated a wholly-owned subsidiary company in the name of 'Adani Electricity Nashik Ltd' (AENL) on 16th March, 2023," it said in a regulatory filing. AENL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on March 16, 2023. AENL is yet to commence its business operations, according to the company.

Hindenburg report has limited near-term impact on cost of funding

Among its renewable energy projects, the Adani group's massive planned investments in green hydrogen would be the easiest to scale back given the government's benign targets

Both run risk of deterioration in credit profile, says agency; Fitch doesn't see immediate impact

S&P Global Ratings on Friday revised outlook on Adani Ports and Adani Electricity to negative from stable while affirming the rating. A US short-seller report alleging significant governance issues for the Adani Group, many of which relate to disclosures and actions at the shareholder level, has triggered a sharp fall in Adani Group entities' equity and bond prices. The company has responded to the allegations and also decided to return funds from a fully subscribed USD 2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility. "There is a risk that investor concerns about the group's governance and disclosures are larger than we have currently factored into our ratings, or that new investigations and negative market sentiment may lead to increased cost of capital and reduce funding access for rated entities," S&P said in a statement. As a result, it revised the rating outlook to negative from stable on Adani Electricity and .