Shares of Adani Energy Solutions Ltd. (AESL) traded in the red on Tuesday, January 21, 2025, despite the announcement of the company’s largest-ever order worth ₹25,000 crore. The stock was down 0.44% to ₹812.15 apiece on the National Stock Exchange (NSE) as of 3:05 PM.
₹25,000 Crore Bhadla-Fatehpur HVDC Project
In a filing to the exchanges, AESL disclosed it had secured the high-voltage direct current (HVDC) order, a project titled ‘Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part I.’
Key Highlights of the Project:
- Order Value: ₹25,000 crore
- Scope: Establishment of a 6,000 MW HVDC system between Bhadla (Rajasthan) and Fatehpur (Uttar Pradesh).
- Transmission Capacity: 7,500 MVA.
- Timeline: Project completion in 4.5 years.
- Impact: Facilitates evacuation of 6 GW renewable energy from Rajasthan’s Renewable Energy Zones (REZs) to North India’s demand centers and integrates it into the national grid.
With this project, AESL’s order book has surged to ₹54,761 crore, covering a 25,778 circuit kilometer (ckm) transmission network and 84,186 MVA transformation capacity.
Comment from Adani Energy CEO
Kandarp Patel, CEO of Adani Energy Solutions, emphasized the project’s significance in India’s decarbonization efforts:
“By enabling efficient evacuation of renewable energy from some of the most inhospitable regions of the country and connecting them to the national grid, AESL is playing its role in India’s decarbonization journey. We will be deploying the latest technology and practices to deliver the project in time and with minimal environmental impact.”
Market Reaction
Despite the milestone announcement, the stock dipped slightly, reflecting broader market sentiment or investor caution. Adani Energy is noted for being the only private-sector player in India with an HVDC asset, a preferred technology for long-distance power transmission.
The company previously completed the Mundra-Mahendragarh HVDC Project and is currently working on the Aarey-Kudus HVDC Project.
This order reinforces Adani Energy’s strategic role in shaping India’s renewable energy infrastructure and national decarbonization goals.
