Adani Energy Solutions Ltd (AESL), India’s largest private transmission company, witnessed a significant rise in its share price, climbing nearly 4% on March 21, 2025. The surge followed the announcement of the company’s latest achievement—a ₹2,800 crore power transmission project in Gujarat, aimed at supporting the production of green hydrogen and green ammonia.
Project Details
The project, titled “Transmission System for Green Hydrogen/Ammonia Manufacturing Potential in Mundra, Gujarat,” involves upgrading the Navinal (Mundra) electrical substation with two large 765/400kV transformers. Additionally, a 75-kilometer-long 765kV double-circuit transmission line will be constructed to connect the Navinal substation to the Bhuj substation. This development will add 150 circuit kilometers (cKM) of transmission lines and 3,000 MVA of transformation capacity to AESL’s infrastructure.
The project, secured under the Tariff-Based Competitive Bidding (TBCB) mechanism, is expected to be completed within 36 months. PFC Consulting Limited served as the bid process coordinator, and the project SPV was formally transferred to AESL on March 20, 2025.
Market Impact
Following the announcement, AESL’s stock price surged to an intraday high of ₹846.95 per share on the National Stock Exchange (NSE), reflecting a 3.9% increase. The company’s market capitalization now stands at ₹1.01 lakh crore. Analysts attribute the rise to the strategic importance of the project, which aligns with India’s push for renewable energy and green hydrogen initiatives.
Strategic Significance
This marks AESL’s sixth project win in the current fiscal year, taking its order book to ₹57,561 crore. The project underscores AESL’s commitment to expanding its transmission network and supporting India’s renewable energy goals. With a cumulative transmission network of 25,928 cKM and 87,186 MVA transformation capacity, AESL continues to strengthen its position as a leader in the energy sector.
Stay tuned for further updates on this landmark project and its implications for India’s green energy transition.
