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Business Segment Review

Transmission vertical

Driving the Indian energy transition

Adani Energy Solutions’ transmission business stands as India’s leading private power transmission network, ensuring seamless and reliable energy flow across the nation. With a focus on expansion and modernisation, it continues to strengthen grid resilience through strategic investments and cutting-edge advancements. Committed to shaping India’s energy future, the business is accelerating the integration of renewables while advancing its transmission efficiency. The growth strategy is anchored in sustainable infrastructure development, strengthening leadership in an evolving energy landscape.

26,600+ ckm

Transmission network

90,000+ MVA

Transformation capacity

99.7%

System availability

Our dedication to expanding and modernising India’s energy infrastructure is driven by a strong focus on innovation and execution excellence. Our efforts to strengthen the transmission network ensure the delivery of reliable, sustainable energy solutions for India, supporting the nation’s growing energy requirements and future aspirations.

Vivek Gautam Chief Project Officer

Industry Overview

Power transmission is vital to India’s energy ecosystem, ensuring a reliable and future-ready power supply by seamlessly connecting generation to distribution. Transmission lines play a crucial role in maintaining grid stability, integrating diverse energy sources, and supporting economic growth. The network integrates state and regional grids into a unified system, supporting growing energy demand and increasing renewable integration. As the sector evolves, advancements in high-voltage systems, smart substations, and energy storage are enhancing grid efficiency and resilience.

4,92,424 ckm (2025) Vs 3,13,437 ckm (2015)

Transmission lines expansion in India

23,45,135 MVA (by 2032)

Transmission capacity to hit from current
13,37,513 (2025) MVA in India

(Source: NEP Volume II – Transmission Plan, CEA)

Segment Overview

We are India’s largest transmission player, operating 45 transmission assets (30 operational and 15 under construction) across 14 states totalling to 26,696 ckm of Transmission lines and 90,236 MVA sub-stations. This comprises projects secured through Tariff-Based Competitive Bidding (TBCB) and Regulated Tariff Mechanism (RTM).

Our Edge
Project Execution Efficiency
  • Implementing advanced project management tools like IPMS enables real-time tracking for timely, cost-effective execution
  • Adaptive allocation of manpower, capital, and supply chain resources
  • Clear targets for approvals and deadlines to address delays
  • Regular audits and reviews to prevent cost overruns
  • Stringent checks, inspections, and adherence to global standards
  • Strict protocols, audits, and continuous training ensure high safety standards
  • Strategic planning and resource efficiency drive capex target achievement
Operational Efficiency
  • Successfully integrated new SPVs into operations with a seamless HOTO (Handing Over & Taking Over) process
  • MoU done with Microsoft for O&M of Data center of two 220kV GIS SS
  • Strengthened system reliability through audits, protection upgrades, and SCADA improvements
  • Developed internal subject matter experts (SMEs) for knowledge-sharing and troubleshooting
  • Digitalised SOPs and standardised protection documents to enhance efficiency
  • Enhanced cybersecurity with external audits and infrastructure upgrades
  • Achieved key ISO certifications and national awards for operational excellence
  • Implemented best practices for asset health, safety, and lifecycle management
  • Advanced industry collaboration through technical paper presentations and innovation initiatives
Energy Network Operations Centre (ENOC)
  • A state-of-the-art innovation transforming automation through remote operations and monitoring in the transmission sector
  • Major substations are already onboarded and operated remotely from Ahmedabad Corporate House through an unmanned setup, maximising asset efficiency
  • Equipped with advanced technological solutions, analytics, and security systems to enhance operational control and surveillance
Asset Performance Management (APM)
  • First-of-its-kind initiative in Adani for all high-voltage assets, enabling data-driven decision-making
  • Facilitates a shift from condition-based to reliability-centred maintenance, strengthening Adani Energy Solutions’ asset management approach
  • Enhances defect detection, improves response times, increases asset uptime, and reduces O&M costs
Long-term Revenue Reliability
  • Operating assets under availability-based tariffs with a concession life of 35 years, providing revenue visibility and mitigating throughput risks
Technological Excellence
  • Adopted ARIBA for end-to-end procurement, integrating API and RPA for efficiency
  • Secured long-term contracts with key suppliers to ensure material availability
  • Partnered with domestic vendors for OPGW procurement, reducing dependency on Chinese OEMs
  • Awarded long-term service contracts to ensure uninterrupted O&M activities
  • Strengthened vendor onboarding with stringent ESG screening and compliance checks

Business Performance

We prioritise operational excellence through advanced technology and strategic investments to deliver value to the stakeholders. Our focus on automation and digitalisation improves efficiency, reduces energy losses, and optimises costs. These initiatives strengthen system reliability and long-term performance. Further, we proactively address environmental challenges with network resilience through implementing cutting-edge designs and system upgrades.

Strengthening O&M Capabilities
  • Integrated commissioning team into O&M for seamless asset transition
  • Implemented MIS automation to eliminate inefficiencies in transactional activities
  • Deployed drones for transmission line patrolling, covering 200+ Ckm in challenging routes
  • Introduced Automatic Fault Analysis System (AFAS) for real-time fault detection and precise fault location
  • Established Outage Management Portal for 29+ sites, reducing manual effort
  • Integrated new assets like Jamkhambhaliya at ENOC for central monitoring and control
  • Successfully completed live line insulator and OPGW replacement in critical assets with 100% safety compliance
  • Enhanced job rotation and leadership development for O&M teams
  • Strengthened safety culture through campaigns like Urja (Electrical Safety) and cross-site safety audits
Cost Optimisation
  • Deployed 16 EVs at O&M sites, reducing admin expenses and diesel dependency
  • Developed SRI insulator health assessment tool for predictive maintenance
  • Optimised inventory levels through a centralised store location concept
  • Reduced fixed KVA demand by optimising energy consumption at substations
  • Enhanced scrap sale management for cost recovery
  • Conducted Power BI training for improved KPI monitoring and decision-making
  • Adopted 3D-printed stores, achieving 8% cost savings over conventional methods while enhancing ESG value
  • Implemented design improvements to reduce maintenance costs, including:
    • Online insulating oil dry-out system for 400 kV+ transformers
    • Enhanced polymer insulator design and quality checks
    • Additional earthing in transmission towers for high-frequency stability
    • Use of electromagnetic transient relays to optimisenetwork performance

22%

Reduction in tripping in our existing assets

54%

Reduction in system downtime compared to FY 2023-24

5%

Reduction in transmission line transient faults

~ ₹43,990 crore

Transmission orders received in FY 2024-25

₹59,936 crore

Total order book as on March 31, 2025

Financial Performance Highlights (Transmission Segment)

FY 2024-25 FY 2023-24
Revenue from operations 4,774 4,045
Operating EBITDA 4,366 3,688
Cash profit 2,635 2,062
Capex 7,646 3,877

92%

Operating EBITDA

Sustainability Performance

  • 35.2% RE share in the electricity procurement mix
  • Carved out Adani Dahanu Thermal Power Station [ADTPS] from its portfolio; in line with the Company’s ESG strategy; during 2024-25, much ahead of FY 2029-30 target

Outlook

India’s transmission sector is set for significant expansion, with an estimated ₹9.1 lakh crore investment required by FY 2031-32 to support a 900 GW installed capacity. This growth is driven by rising power demand, the integration of 500+ GW renewable energy, and the nation’s net-zero target for 2070.

With a ₹59,936 crore order book and a strong TBCB pipeline, our focus remains on scaling execution, enhancing efficiency, minimising cost overruns, and optimising capital deployment to strengthen our leadership in India’s evolving grid network.

CASE STUDY

Strengthening Madhya Pradesh’s Power Infrastructure with MP Package

Adani Energy Solutions successfully executed the MP Package II Transmission Scheme in FY 2024-25, strengthening Madhya Pradesh’s power infrastructure. The project covered 29 districts, constructing 28 transmission lines (~1,088 Ckm) and 18 substations (2,736 MVA) on a BOOM basis. To have faster & smarter execution with cost effective solution LILO arrangement of two double circuit 220 kV Transmission lines were executed from substation side with shorter distance having substantial saving.

Significance

The project enhanced power reliability and efficiency in eastern Madhya Pradesh, ensuring a stable electricity supply across the state.

Challenges and Execution
Challenge

ROW issues, land acquisition in heritage areas, and statutory clearances regarding wildlife conservation

Mitigation

Utilised advanced project management tools for real-time monitoring, ensuring timely, cost-effective, and high-quality execution