Adani Electricity, Tata eye bigger pie in Mumbai power distribution

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

As Mumbai’s real estate and electric vehicle penetration grows, two of the city’s private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers.

Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions’ Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company’s presentation shows. This gain came at over 13 per cent growth in the year-ago period.  Rating agency Fitch attributed this growth to strong commercial and industrial demand.

Tata Power, the other private power distributor in