Adani Electricity

The Gujarat government has paid Rs 16,900 crore to Adani Power and Tata Power for purchasing electricity during the last two years, the state Assembly was informed on Monday. As per the data tabled by Energy Minister Kanubhai Desai during Question Hour, the state government paid Rs 8,160 crore to Adani Power Mundra Ltd while Rs 8,784 was paid to Coastal Gujarat Power Ltd, a wholly owned subsidiary of Tata Power, in 2021 and 2022. While responding to a set of questions raised by Congress MLAs about the purchase of electricity from these private players, Desai said the state government paid Rs 2,760 crore to Adani Power in 2021 to buy 5,589 million units while Rs 5,400 crore was paid to the firm in 2022 for nearly 6,000 million units. In 2021, the state government paid Rs 2,751 crore to Tata Power to buy 7,315 million units, while the cost came to Rs 6,033 crore for 10,446 million units in 2022. The data suggested per unit cost of Rs 2.83 paid to Adani in January 2021 went up to Rs 8

Adani Transmission has incorporated an arm, Adani Electricity Nashik Ltd, for distribution business in the Nashik area. It is aimed at applying parallel distribution license in the city. "The company has incorporated a wholly-owned subsidiary company in the name of 'Adani Electricity Nashik Ltd' (AENL) on 16th March, 2023," it said in a regulatory filing. AENL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on March 16, 2023. AENL is yet to commence its business operations, according to the company.

Hindenburg report has limited near-term impact on cost of funding

Among its renewable energy projects, the Adani group's massive planned investments in green hydrogen would be the easiest to scale back given the government's benign targets

Both run risk of deterioration in credit profile, says agency; Fitch doesn't see immediate impact

S&P Global Ratings on Friday revised outlook on Adani Ports and Adani Electricity to negative from stable while affirming the rating. A US short-seller report alleging significant governance issues for the Adani Group, many of which relate to disclosures and actions at the shareholder level, has triggered a sharp fall in Adani Group entities' equity and bond prices. The company has responded to the allegations and also decided to return funds from a fully subscribed USD 2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility. "There is a risk that investor concerns about the group's governance and disclosures are larger than we have currently factored into our ratings, or that new investigations and negative market sentiment may lead to increased cost of capital and reduce funding access for rated entities," S&P said in a statement. As a result, it revised the rating outlook to negative from stable on Adani Electricity and .

Navi Mumbai Airport, JNPT, Data Centres in area will form the consumer base for the proposed discom

After several power outages in Mumbai, the MERC in 2013 gave its approval to the detailed project report of the Aarey-Kudus electricity transmission project of Reliance Energy

Reacts to RInfra statement of last week, which said it has filed a claim of Rs 13,400 crore; Adani says it has filed counterclaims

The power discom, a unit of the listed Adani Transmission, said the 7 lakh smart meters is the first phase target and the remaining 20 lakh consumers will get smart meters by the end of FY25

The transaction is expected to have an equity value of 30 billion rupees ($377 million) and an enterprise value of 50 billion rupees

Adani and Reliance Group are planning to set up 40-million tonne per annum (mtpa) plants in Uttar Pradesh and Gujarat, while Reliance Industries is still formalising the two locations

The Adani group's foray into the 5G space comes on the back of a massive expansion spree

Adani was entitled to a sum equivalent to 50 per cent of the outstanding it claims, the court said on February 1

IHC investment in parent Adani Transmission Ltd to improve leverage and credit quality

Maharashtra power regulator had set tariff for Mumbai users for 5 years in March 2020 when Richard Bay coal prices were at $64-72 a tonne. Since then, coal prices have quadrupled

The company has linked these targets with financial penalty for non-achievement under its recent issuance of US Dollar denominated Bond to international investors, demonstrating commitment

Based on AEML's submissions, for the first time the Maharashtra Electricity Regulatory Commission (MERC) reduced consumer tariff by an average 18 per cent effective April 1, 2020.

Switch can be done with the immediate billing cycle; customers will receive a Green Power Certificate each month

AEML will increase renewable energy supply as part of Adani Group's commitment to lower carbon footprint, says Kandarp Patel.