Adani Energy Solutions Wins Green Hydrogen Project in Gujarat
Key Ideas
  • Shares of Adani Energy Solutions rose 4% after winning a power transmission project in Gujarat for Green Hydrogen and Green Ammonia.
  • The project involves upgrading electrical substations and constructing transmission lines, costing Rs 2,800 crore and set to be completed in 36 months.
  • Adani Energy Solutions is the largest private transmission company in India, with a significant presence across multiple states and a strong consumer base.
  • Stock of Adani Energy Solutions surged, with market cap reaching Rs 1.01 lakh crore, showcasing investor confidence in the company's green energy initiatives.
Adani Energy Solutions Ltd (AESL), part of the Adani Group, witnessed a 4% surge in its stock after securing a power transmission project in Mundra, Gujarat, for Green Hydrogen and Green Ammonia production. The project, valued at Rs 2,800 crore, aims to supply clean electrons for manufacturing these sustainable fuels. The upgrade at the Navinal (Mundra) electrical substation will see the addition of two large transformers and a 75 km transmission line to connect to the Bhuj substation. This initiative will enhance AESL's transmission infrastructure by adding 150 cKM of lines and 3,000 MVA of transformation capacity, boosting their overall network to 25,928 cKM and 87,186 MVA. Adani Energy Solutions, the largest private transmission company in India, operates across 16 states with a substantial transmission network. They also serve over 12 million consumers in Mumbai and Mundra SEZ. The stock market responded positively to the news, with the company's stock price and market cap experiencing notable increases. This project signifies a significant step towards sustainable energy solutions and showcases the company's commitment to green initiatives.
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