{{Short description|Electric power transmission company in India}} {{Use dmy dates|date=June 2022}} {{Use Indian English|date=June 2022}} {{Infobox company | name = Adani Energy Solutions Limited | logo = Adani Energy Solution Logo Four Colour Wd.jpg | caption = | image = | image_caption = | type = Public | traded_as = {{ubl|{{BSE|539254}}|{{NSE|ADANIENSOL}}}} | ISIN = INE931S01010 | genre = | fate = | predecessor = | successor = | founded = {{Start date|df=yes|2013|12|9}} | founder = Gautam Adani | defunct = <!-- {{End date|YYYY|MM|DD}} --> | hq_location_city = Shantigram, Khodiyar, Ahmedabad | hq_location_country = India | location = | num_locations = | area_served = | key_people = {{ubl|Gautam Adani <br> {{small|(Chairman)}}|Bimal Dayal <br> {{small|(CEO)}}<ref>{{cite web |title=Adani Transmission |work=The Wall Street Journal |url=https://www.wsj.com/market-data/quotes/IN/XBOM/539254?mod=searchresults_companyquotes }}</ref>}} | industry = Electric utility | products = Electricity transmission and distribution | services = | revenue = {{profit}} {{INRConvert|24447|c}}<ref name="fy">{{Cite web|url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/19354121-3fe6-4edb-82ae-2e1f315f414e.pdf |title = Adani Transmission Ltd. Financials|work=bseindia.com}}</ref> | revenue_year = FY 2024-25 | operating_income = {{profit}} {{INRConvert|7746|c}}<ref name="fy"/> | income_year = FY 2024-25 | net_income = {{increase}} {{INRConvert|2427|c}}<ref name="fy"/> | net_income_year = FY 2024-25 | assets = {{increase}} {{INRConvert|58579|c}}<ref name="fy"/> | assets_year = 2024 | equity = {{increase}} {{INRConvert|13703|c}}<ref name="fy"/> | equity_year = 2024 | num_employees = 4,959 (2024) | parent = Adani Group | divisions = | subsidiaries = Adani Electricity Mumbai Limited | website = {{Official URL}} | footnotes = <ref>{{Cite web |title=Adani Transmission Limited|url=https://reports.adani.com/Adani-Transmission-Limited-Annual-Report/mobile/index.html |access-date=2023-04-13 |website=Adani Group}}</ref> | intl = }}
'''Adani Energy Solutions Ltd''', formerly known as '''Adani Transmission Ltd''',<ref>{{cite news |title=Adani Transmission is now renamed to Adani Energy Solutions Ltd |url=https://www.livemint.com/companies/news/adani-transmission-is-now-renamed-to-adani-energy-solutions-ltd-11690464511096.html |access-date=26 September 2023 |work=Mint |date=27 July 2023 |language=en}}</ref> is an electric power transmission and distribution company headquartered in Ahmedabad.<ref name=":1">{{Cite news|title=Adani Transmission Ltd.|work=Business Standard India|url=https://www.business-standard.com/company/adani-transmissi-66273/information/company-history|access-date=2020-11-27}}</ref> As of April 2025, the company operates a cumulative transmission network of 26,696 circuit kilometers<ref>{{Cite web|title=Q4 Presentation|url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/19354121-3fe6-4edb-82ae-2e1f315f414e.pdf|website=www.bseindia.com}}</ref> and is one of the largest private sector power transmission companies operating in India.<ref>{{Cite book |url=https://openknowledge.worldbank.org/bitstream/handle/10986/26842/LinkingUp.pdf?sequence=3&isAllowed=y |title=Linking Up: Public-Private Partnerships in Power Transmission in Africa |publisher=World Bank |year=2017 |location=Washington DC |pages=83}}</ref><ref>{{Cite web |date=17 December 2019 |title=Adani Transmission Receives LOI for Transmission Project in Maharashtra |url=https://www.saurenergy.com/solar-energy-news/adani-transmission-receives-loi-transmission-project-maharashtra |access-date=2020-11-27 |website=www.saurenergy.com}}</ref>
== History ==
Adani Transmission was founded by Gautam Adani in December 2015 after separating the decade-old transmission business from Adani Enterprises.<ref name=":1" /> At the time of the founding, the company became the primary custodian for more than 3800 circuit kilometers of transmission lines originating from the Mundra Thermal Power Station, connecting Mundra–Dehgam, Mundra–Mohindergarh and Tirora–Warora. {{citation needed|date=June 2022}}
In July 2023, the company was renamed to Adani Energy Solutions<ref>{{Cite web |date=2023-07-27 |title=Adani Transmission renames itself as Adani Energy Solutions |url=https://www.moneycontrol.com/news/business/adani-transmission-renames-itself-as-adani-energy-solutions-11045241.html |access-date=2023-08-31 |website=Moneycontrol |language=en}}</ref> to better reflect its suite of products and services.<ref>{{Cite news |date=2023-08-01 |title=Anil Sardana on why Adani Transmission was renamed Adani Energy Solutions, expansion, capex plans & more |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/expert-view/anil-sardana-on-why-adani-transmission-was-renamed-adani-energy-solutions-expansion-capex-plans-more/articleshow/102303383.cms?from=mdr |access-date=2023-08-31 |issn=0013-0389}}</ref>
=== Mergers and acquisitions === In 2015, ATL acquired three wholly owned subsidiaries of PFC Consulting, which itself is a subsidiary of Power Finance Corporation – the Chhattisgarh-WR transmission line, Sipat transmission line connecting with Sipat Thermal Power Station and Raipur-Rajnandgaon-Warora transmission line.<ref>{{Cite web|title=Adani Transmission acquires three subsidiaries from PFC Consulting|url=https://www.indiainfoline.com/article/capital-market-corporate-news/adani-transmission-acquires-three-subsidiaries-from-pfc-consulting-115112600268_1.html|access-date=2020-11-27|website=www.indiainfoline.com|language=en}}</ref>
In 2016, ATL further acquired the GMR Group's transmission assets in the state of Rajasthan — the Maru Transmission Services Ltd (MTSL) and Aaravalli Transmission Services Ltd (ATSL).<ref>{{Cite web|last=Bureaus|title=Adani inks agreement to acquire stake in GMR Energy's transmission projects|url=https://www.thehindubusinessline.com/companies/adani-inks-agreement-to-acquire-stake-in-gmr-energys-transmission-projects/article8797892.ece|access-date=2020-11-27|website=@businessline|date=July 2016 |language=en}}</ref> In the same year, the company also acquired Reliance Infrastructure's transmission assets of the Western Region System Strengthening Scheme (WRSSS).<ref>{{Cite web|title=Adani arm completes buy of RInfra's western region transmission assets|url=https://www.thehindubusinessline.com/companies/adani-arm-completes-buy-of-rinfras-western-region-transmission-assets/article9936371.ece|access-date=2020-11-27|website=@businessline|date=November 2017 |language=en}}</ref>
In December 2017, the company obtained a share purchase agreement (SPA) for the acquisition of the Mumbai Generation Transmission & Distribution (GTD) business from Reliance Infrastructure.<ref>{{Cite web|last=Dutta|first=Sanjay|date=22 December 2017|title=Reliance Energy: Adani acquires Mumbai business of debt-hit Reliance Energy for Rs 19,000 crore |url=https://timesofindia.indiatimes.com/business/india-business/adani-transmission-to-acquire-anil-ambanis-rel-energy-in-rs-18800-crore-deal/articleshow/62198086.cms|access-date=2020-11-27|website=The Times of India|language=en}}</ref><ref>{{Cite news|title=Adanis buy Reliance Infrastructure's Mumbai power business|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/power/adanis-buy-reliance-infrastructures-mumbai-power-business/articleshow/62200962.cms?from=mdr|access-date=2020-11-27}}</ref> In March 2018, the shareholders of Reliance Infrastructure approved the sale of its power business for Rs. 18,800 crore to Adani Transmission Limited.<ref>{{Cite news|title=Reliance Infra's sale of Mumbai power ops to Adani gets regulatory nod|url=https://economictimes.indiatimes.com/industry/energy/power/reliance-infras-sale-of-mumbai-power-ops-to-adani-gets-regulatory-nod/articleshow/64783483.cms?from=mdr%5D%5BR10-https://www.thehindubusinessline.com/companies/adani-set-to-acquire-reliance-energys-mumbai-power-biz/article24803238.ece|access-date=2020-11-27|website=The Economic Times| date=28 June 2018 | last1=Prasad | first1=Rachita }}</ref><ref>{{Cite news|title=Reliance Infrastructure to sell Mumbai power business to Adani Transmission for Rs 18,800 crore|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/power/reliance-infrastructure-to-sell-mumbai-power-business-to-adani-transmission-for-rs-18800-crore/articleshow/63129836.cms|access-date=2020-11-27}}</ref> This resulted in the founding of Adani Mumbai Electricity Limited, a 100% wholly owned subsidiary of ATL which currently serves more than 3 million consumers across a license area of approximately 400 square kilometers in the city of Mumbai.<ref>{{Cite web|title=Adani takes over Reliance Infrastructure's Mumbai energy business for Rs 18,800 crore|url=https://www.newindianexpress.com/business/2018/aug/29/adani-takes-over-reliance-infrastructures-mumbai-energy-business-for-rs-18800-crore-1864600.html|access-date=2020-11-27|website=The New Indian Express|date=29 August 2018 }}</ref>
In February 2019, ATL acquired KEC International's Bikaner-Sikar transmission asset in Rajasthan.<ref>{{Cite news|last=Singh|first=Sarita C.|title=Adani Transmission completes acquisition of KEC International's project for Rs 228 crore|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/power/adani-transmission-completes-acquisition-of-kec-internationals-project-for-rs-228-crore/articleshow/67906178.cms?from=mdr|access-date=2020-11-27}}</ref><ref>{{Cite web|title=KEC International completes transmission asset sale to Adani for ₹227 crore|url=https://www.thehindubusinessline.com/companies/kec-international-completes-transmission-asset-sale-to-adani-for-227-crore/article26217721.ece|access-date=2020-11-27|website=@businessline|date=8 February 2019 |language=en}}</ref><ref>{{Cite web|last=PTI|date=2018-11-05|title=Adani arm to buy KEC International's power transmission unit|url=https://www.livemint.com/Companies/rzPJdXlW1gQn9UunvcSllJ/Adani-arm-to-buy-KEC-Internationals-power-transmission-unit.html|access-date=2020-11-27|website=mint|language=en}}</ref><ref>{{Cite news|last=Umarji|first=Vinay|date=2019-02-08|title=Adani closes KEC's Transmission asset acquisition deal, buys 100% stake|work=Business Standard India|url=https://www.business-standard.com/article/companies/adani-closes-kec-s-transmission-asset-acquisition-deal-buys-100-stake-119020801319_1.html|access-date=2020-11-27}}</ref> In September of the same year, the company acquired PFC Consulting's Bikaner-Khetri transmission project in Rajasthan.<ref>{{Cite web|title=Energy News Monitor {{!}} Volume XVI; Issue 16|url=https://www.orfonline.org/research/energy-news-monitor-55938/|access-date=2020-11-27|website=ORF|language=en-US}}</ref><ref>{{Cite web|last=www.ETEnergyworld.com|title=Adani Transmission acquires Bikaner-Khetri project in Rajasthan - ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/news/power/adani-transmission-acquires-bikaner-khetri-project-in-rajasthan/71215202|access-date=2020-11-27|website=ETEnergyworld.com|language=en}}</ref><ref>{{Cite web|title=Adani Transmission acquires Bikaner-Khetri project in Rajasthan|url=https://www.moneycontrol.com/news/business/adani-transmission-acquires-bikaner-khetri-project-in-raj-4456591.html|access-date=2020-11-27|website=Moneycontrol}}</ref>
In July 2020, the company signed definitive agreements with Kalpataru Power Transmission (KPTL) for acquiring Alipurduar Transmission.<ref>{{Cite news|last=Pillay|first=Amritha|date=2020-07-06|title=Adani Transmission to buy Kalpataru's transmission asset for Rs 1,286 cr|work=Business Standard India|url=https://www.business-standard.com/article/companies/adani-transmission-to-buy-kalpataru-s-transmission-asset-for-rs-1-286-cr-120070600354_1.html|access-date=2020-11-27}}</ref><ref>{{Cite web|title=Adani Transmission inks pact with KPTL to buy Alipurduar Transmission|url=https://www.newindianexpress.com/business/2020/jul/06/adani-transmission-inks-pact-with-kptl-to-buy-alipurduar-transmission-2166039.html|access-date=2020-11-27|website=The New Indian Express|date=6 July 2020 }}</ref><ref name=":0">{{Cite news|date=2020-07-06|title=Adani Transmission to acquire Alipurduar Transmission from Kalpataru|language=en-IN|work=The Hindu|url=https://www.thehindu.com/business/Industry/adani-transmission-to-acquire-alipurduar-transmission-from-kalpataru/article31999839.ece|access-date=2020-11-27|issn=0971-751X}}</ref><ref>{{Cite web|last=PTI|title=Adani Transmission inks pact with Kalpataru Power to buy Alipurduar Transmission|url=https://www.thehindubusinessline.com/companies/adani-transmission-inks-pact-with-kalpataru-power-to-buy-alipurduar-transmission/article31999572.ece|access-date=2020-11-27|website=@businessline|date=6 July 2020 |language=en}}</ref> adding 650 circuit kilometers in its network from the state of Bihar and West Bengal.<ref name=":2">{{Cite web|title=Adanis buy power asset in Bengal|url=https://www.telegraphindia.com/business/adanis-buy-power-asset-in-bengal/cid/1785566|access-date=2020-11-27|website=www.telegraphindia.com}}</ref>
In May 2024, the company announced its acquisition of Essar's Mahan-Sipat transmission assets for Rs. 1,900 crore through its wholly owned subsidiary Adani Transmission Step Two (ATST). This move will consolidate its presence in Central India with 4 operating assets of 3373 ckt km in the region <ref>{{Cite web|title=Adani Energy completes acquisition of Essar's Mahan-Sipat transmission assets for Rs 1,900 cr|url=https://www.moneycontrol.com/news/business/adani-energy-completes-acquisition-of-essars-mahan-sipat-transmission-assets-for-rs-1900-cr-12723451.html|access-date=2024-05-16|website=Moneycontrol|language=en}}</ref>
===Allegations of stock manipulation === In January 2023, Hindenburg Research published the findings of a two-year investigation claiming that Adani had engaged in market manipulation and accounting malpractices; Hindenburg also disclosed that it was holding short positions on Adani Group companies.<ref name="report">{{cite web |url=https://hindenburgresearch.com/adani/ |title=Adani Group: How The World's 3rd Richest Man Is Pulling The Largest Con In Corporate History |date=January 24, 2023 |website=hindenburgresearch.com |publisher=Hindenburg Research |access-date=January 24, 2023 }}</ref><ref>{{cite news |last1=Thomas |first1=Chris |last2=Kalra |first2=Aditya |title=Hindenburg shorts India's Adani citing debt, accounting concerns; shares plunge |url=https://www.reuters.com/markets/asia/hindenburg-says-holds-short-positions-indias-adani-flags-risks-2023-01-25/ |access-date=25 January 2023 |work=Reuters |date=25 January 2023 |language=en}}</ref><ref>{{cite news |last1=Sorkin |first1=Andrew Ross |last2=Mattu |first2=Ravi |last3=Warner |first3=Bernhard |last4=Kessler |first4=Sarah |last5=de la Merced |first5=Michael J. |last6=Hirsch |first6=Lauren |last7=Livni |first7=Ephrat |title=A Short Seller Takes Aim at an Indian Corporate Giant |url=https://www.nytimes.com/2023/01/25/business/dealbook/short-seller-hindenburg-adani.html |access-date=25 January 2023 |work=The New York Times |date=25 January 2023}}</ref><ref>{{cite news |last1=Lockett |first1=Hudson |title=Adani shares take $10.8bn hit after Hindenburg bets against group |url=https://www.ft.com/content/4aedaaf9-9ee8-4334-945c-12ac08429d6a |access-date=25 January 2023 |work=Financial Times |date=25 January 2023}}</ref> Bonds and shares of companies associated with Adani experienced a decline in value after the accusations.<ref>{{cite news |last1=Lee |first1=Jihye |title=Adani shares fall as short seller firm Hindenburg announces short position |url=https://www.cnbc.com/2023/01/25/adani-group-hindenburg-short-position.html |access-date=25 January 2023 |work=CNBC |date=25 January 2023 |language=en}}</ref><ref>{{cite news |last1=Kay |first1=Chris |last2=Vishnoi |first2=Abhishek |last3=Joshi |first3=Ashutosh |title=Hindenburg Targets Asia's Richest Man, Triggering Adani Selloff |url=https://www.bloomberg.com/news/articles/2023-01-25/adani-group-stocks-drop-after-hindenburg-takes-short-position |access-date=25 January 2023 |work=Bloomberg News |date=25 January 2023 |language=en}}</ref> Adani denied the fraud allegations as unfounded and ill intentioned.<ref name="madhok-2023"> {{cite news | last1 = Madhok | first1 = Diksha | title = Asia's richest man slams short-seller's fraud claims as 'baseless' and 'malicious' | date = 25 January 2023 | language = en | work = CNN Business | location = Atlanta, Georgia, USA | url = https://www.cnn.com/2023/01/25/business/india-adani-shares-plunge-hindenburg-report-hnk-intl/index.html | access-date = 25 January 2023 }} </ref>
==References== {{reflist|2}}
==External links == * {{Official website}}
{{Adani Group}} {{Energy in India}} {{Nifty 200 companies}}
Category:Converter stations Category:Electric power transmission infrastructure in India Category:Companies based in Ahmedabad Category:Electric power transmission system operators in India Category:Adani Group Category:Utilities of India Category:2015 establishments in Gujarat Category:Indian companies established in 2015 Category:Energy companies established in 2015 Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange