Adani Energy share price drops despite winning largest ever ₹25,000 crore power transmission project

Adani Energy Solutions share price: Shares of Adani Energy Solutions traded in red on Tuesday, January 21, despite the company securing ₹25,000 crore power transmission project, its largest ever order to date.

The stock was down 0.44% to ₹812.15 apiece on the National Stock Exchange (NSE) at 3:05 pm.

Adani Energy secures ₹25,000 crore order

In an exchange filing on January 21, Adani Energy Solutions informed that it has won ₹25,000 crore Bhadla (Rajasthan)- Fatehpur (Uttar Pradesh) high voltage direct current (HVDC) order.

Notably, this is the company's largest order till date, taking the order book to ₹54,761 crore and transmission network to 25,778 circuit kilometer (ckm) and 84,186 mega volt-amperes (MVA) transformation capacity.

The project, 'Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part I,' includes the establishment of a 6,000 MW HVDC system between Bhadla and Fatehpur along with 7500 MVA transmission capacity. The company will deliver the project in 4.5 years.

"The project will help evacuate 6 GW renewable energy from various REZs in Rajasthan beyond Bhadla-III to demand centres of North India and to the national grid," the regulatory filing said.

Kandarp Patel, CEO of Adani Energy, said, "By enabling efficient evacuation of renewable energy from some of the most inhospitable regions of the country and connecting them to the national grid, AESL is playing its role in India’s decarbonisation journey. We will be deploying latest technology and practices to deliver the project in time and with minimal environmental impact."

It should be noted that Adani Energy is the only private-sector player to own an HVDC asset, which is favoured for long-distance power transmission. It has previously delivered the Mundra – Mahendragarh HVDC Project, and the Aarey-Kudus HVDC Project is under implementation.