Adani Energy Solutions shares in focus after bagging Rs 2,800 cr power transmission project in Gujarat

Shares of Adani Energy Solutions Ltd (AESL) will be in focus on Monday after it secured a Rs 2,800 crore power transmission project in Gujarat. According to an exchange filing, the project will supply green electrons for the production of Green Hydrogen and Green Ammonia at Mundra in Gujarat.

This marks AESL’s sixth order win for the fiscal year, bringing its total order book to Rs 57,561 crore.

The project, titled “Transmission System for Green Hydrogen/Ammonia Manufacturing Potential in Mundra, Gujarat,” involves upgrading the Navinal (Mundra) electrical substation by adding two large 765/400kV transformers. Additionally, a 75 km 765kV double-circuit line will be built to connect the substation to the Bhuj substation.

The project will add 150 cKM (circuit kilometers) of transmission lines and 3,000 MVA (megavolt-amperes) of transformation capacity to AESL’s transmission infrastructure, expanding their total network to 25,928 cKM and 87,186 MVA.

AESL won the project through the Tariff-Based Competitive Bidding (TBCB) mechanism, with PFC Consulting Ltd coordinating the bid process. The project SPV (Special Purpose Vehicle) was officially transferred to AESL on March 20, 2025.

Adani Energy, part of the Adani Group, is India’s largest private transmission company, with a cumulative transmission network of 25,928 cKM and 87,186 MVA transformation capacity. It is involved in various energy sectors, including power transmission, distribution, smart metering, and cooling solutions.

Shares of the company fell 18% and underperformed its sector by 22% in the past year. Meanwhile, the stock has fallen 65% in the last three years. Adani Green Energy has worse one year returns than Nifty50, Sensex, industry, and sector.