Adani Energy Solutions shares rise nearly 4% on securing ₹2,800 crore green hydrogen project

The stock climbed as much as 3.9% to ₹846.95 apiece on the National Stock Exchange (NSE). At 1:06 pm, it was up 2.9%.

In an exchange filing, the company said it has won a power transmission project, which will supply green electrons for the manufacturing of green ammonia and green hydrogen in Gujarat's Mundra. The project is worth ₹2,800 crore and will be delivered in 36 months.

"This project '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 long 765kV double-circuit line will be constructed to connect this substation to the Bhuj substation," Adani Energy said.

The project will increase Adani Energy's transmission infrastructure by 3,000 megavolt-amperes (MVA) by adding 150 circuit kilometres of transmission lines, taking them to 87,186 MVA and 25,928 cKM, respectively.

The company's order book stands at ₹57,561 crore.

Adani Energy posted a nearly 80% increase in its consolidated net profit to ₹625.3 crore in the third quarter of the current fiscal, compared to ₹348.25 crore in the year-ago period.

Total income stood at ₹6,000.39 crore in Q3 FY25, reflecting an increase of 24.3% from ₹4,824.42 crore in the December quarter of FY24.

Kandarp Patel, CEO, of Adani Energy Solutions, said, "The key highlight of this quarter is the new project wins in AESL, which not only helps in gaining market share but also strengthens AESL’s pole position as the largest private transmission player in India. The power demand trends in both utilities are encouraging and we are making progress with the installation of smart meters in all our contracts with daily average installation consistently improving."

The total expenses surged 17% to ₹4,976.4 crore in the October-December quarter.