Positioned for Accelerated Growth in a Thriving Industry

Industry Opportunity

Rising power demand, grid reliability, consumerism, and renewable energy penetration are driving energy sector investments. The transmission sector presents a ₹9.15 trillion opportunity (FY 2022-32) for grid expansion, resilience, and infrastructure upgrades. Consumer-focussed power distribution aims to enhance reliability and offer choices to consumer for supply of affordable and sustainable power. The growing smart metering penetration will modernise the grid and enhance service quality.

Adani Energy Solutions Poised to Benefit with Triple Growth Engines

Adani Energy Solutions' vast experience and unmatched expertise in power transmission, distribution, and smart metering has positioned the company to leverage the stable regulatory environment and emerging growth opportunities in the sector. Further, as an energy solution provider, the company remains focussed on offering Cooling as a Service (CaaS) and tailor-made power solutions for C&I consumers.

Transmission: As a leading player with strong execution, asset management, and financial capabilities, Adani Energy Solutions is expanding networks and deploying advanced technologies for efficient O&M.

Distribution: Within its power distribution vertical, Adani Energy Solutions through its licence areas in Mumbai and Mundra is focussed on delivering reliable and affordable electrons to the last-mile consumers through efficient power procurement, reliable supply through continuous network upgrade and establishing mechanism to improve the consumer satisfaction.

Smart Metering: There are twin objectives, on the one hand, to allow DISCOMs to better understand demand trends and grid management and on the other side, offer consumption optimisation opportunities for consumers. Within this segment, Adani Energy Solutions has secured ~17% market share in the awarded tenders and achieving feats by leveraging its expertise in distribution.

Capex to Tap Growth

Transmission

Distribution

Smart Metering

Development, Construction, and Asset Optimisation Expertise

With end-to-end project capabilities, our Project Management & Assurance Group (PMAG) enables rapid transmission capacity expansion from bidding to execution. This expertise, along with scale benefits and nationwide presence, enhances competitiveness. Strong vendor management ensures business sustainability and cost efficiency.

In distribution business, we strengthen and upgrade the network by adding or replacing substations, lines, cables and other electrical equipment to meet the rising power demand and become future-ready. The proactive approach towards modernisation, smart metering, and extensive infrastructure upgrades have enhanced efficiency, improved service delivery, and reduced losses for our utilities, leading to higher customer satisfaction.

Our 5-year Growth Story

Adani Energy Solutions has expanded its transmission portfolio to 26,600+ ckm with a transformation capacity of 90,000+ MVA, strengthening India’s energy infrastructure. The growth is driven by robust project execution capabilities, prudent capital management and O&M excellence.

Operational and Management Excellence

Transmission Operations

We employ reliability-centred maintenance, Asset Performance Management (APM), predictive analytics, and advanced tech for superior O&M capabilities. Our distinguished O&M practices, predictive maintenance philosophy underpinned by state-of-the-art Energy Network Operation Center (ENOC), command and monitoring centre ensures seamless operations & maintenance and swift response system for uninterrupted power transmission.

Distribution Operations

Our distribution business ensures world-class reliability with Supervisory Control and Data Acquisition (SCADA) and Distribution Management System (DMS) automation for HT networks, achieving 99.996% service availability and 4.77% distribution losses. We restore service within five minutes and reduce losses through theft-proof infrastructure and a dedicated Central Vigilance Team (CVT) conducting extensive vigilance activities.

Setting Benchmarks in Sustainable Practices

We align with UNSDGs by maintaining Zero Waste to Landfill, Single-Use Plastic-free, and net water positive status while aspiring for Net Positive Gain to biodiversity. Our target is net zero emissions by 2050, with interim SBTi milestones.

Integrating ESG into decision-making, we drive grid decarbonisation by expanding RE transmission and distribution. Our RE procurement helps customers meet Net Zero and SBTi targets, while green tariffs enable residential consumers to reduce their carbon footprint. Smart meters provide consumption insights, optimising usage and improving grid performance.

Through ENOC monitoring, we enhance workforce safety and ensure seamless operations. As part of the Utilities for Net Zero Alliance (UNEZA), Adani Energy Solutions gains global insights and shares expertise in high-capacity RE evacuation networks.

Resilient Credit and Capital Management Framework

Our strategically devised capital management plan and robust capital structure balances between diversified capital sources with f ixed-priced debt for the operational assets which is fully hedged and has an elongated refinancing profile which matches the asset life and significantly reduces the asset liability mismatch. On the equity side, the fundraising from a diversified pool of investors is competitively priced and allocated basis the guided growth path. Further, the stable and growing internal cash flows strengthens the capital structure. As of March 31, 2025, our debt maturity averages at 6.6 years and a solid liquidity position coupled with prudent capital management plan supports our BBB- (Fitch) and Baa3 (Moody’s) ratings, making us India’s only private transmission and distribution company with an international IG rating since FY 2015-16.