Adani Energy Solutions shares gain as Adani group firm commissions Karur Transmission project
Adani Energy Solutions has a portfolio of operational transmission projects and several others in various stages of construction. The stock was trading at Rs 754.45 on BSE, up 1.59 per cent. It hit a high of Rs 759 earlier in the day.
- Oct 27, 2023,
- Updated Oct 27, 2023 1:41 PM IST
Adani Energy Solutions Ltd (erstwhile Adani Transmission Ltd), saw its shares rising 2 per cent in Friday's trade, as the Adani group company commissioned Karur Transmission project, which included the establishment of the Karur Pooling Station and an associated transmission line spanning 8.51 circuit kilometres (CKM) in Tamil Nadu.
With a transformation capacity of 1,000 MVA, Adani Energy Solutions said the project would facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone. Additionally, the Adani group firm said, the project would strengthen the Southern Regional grid and support the integration of renewable energy sources on a large scale.
Adani Energy Solutions has a portfolio of operational transmission projects and several others in various stages of construction. The stock was trading at Rs 754.45 on BSE, up 1.59 per cent. It hit a high of Rs 759 earlier in the day.
The Karur/Tiruppur Wind Energy Zone is a key wind corridor in Tamil Nadu, with significant capacities in wind energy and several under-construction wind farms. Adani Energy Solutions was awarded the project to ensure the smooth evacuation of up to 2500 MW of green power produced in the region.
"This project aligns with India's decarbonization goals, supporting the country's aim to achieve 500 GW of green energy by 2030. It will provide industrial, commercial, and residential consumers with enhanced access to reliable and clean energy. AESL secured this project through the Tariff-Based Competitive Bidding (TBCB) route in December 2021 for a period of 35 years, covering the build, own, operate, and maintain basis," Adani Energy Solutions said.
Despite numerous challenges, Adani Energy Solutions said it executed the project in a fast-track mode, taking into consideration the topological challenges while minimizing ecological impact.
"Several innovative approaches were employed during the execution, including the use of high-boom RMC machines for concreting work, high-boom lifts and cranes for tower erections, and the implementation of advanced cybersecurity endpoint solutions through the latest SCADA system. The project also involved round-the-clock work in multiple shifts, allowing for enhanced progress," it said.
Also read: Hot stocks on October 27, 2023: Vedanta, Adani Power, Vodafone Idea, RVNL, Swan Energy and more
Adani Energy Solutions Ltd (erstwhile Adani Transmission Ltd), saw its shares rising 2 per cent in Friday's trade, as the Adani group company commissioned Karur Transmission project, which included the establishment of the Karur Pooling Station and an associated transmission line spanning 8.51 circuit kilometres (CKM) in Tamil Nadu.
With a transformation capacity of 1,000 MVA, Adani Energy Solutions said the project would facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone. Additionally, the Adani group firm said, the project would strengthen the Southern Regional grid and support the integration of renewable energy sources on a large scale.
Adani Energy Solutions has a portfolio of operational transmission projects and several others in various stages of construction. The stock was trading at Rs 754.45 on BSE, up 1.59 per cent. It hit a high of Rs 759 earlier in the day.
The Karur/Tiruppur Wind Energy Zone is a key wind corridor in Tamil Nadu, with significant capacities in wind energy and several under-construction wind farms. Adani Energy Solutions was awarded the project to ensure the smooth evacuation of up to 2500 MW of green power produced in the region.
"This project aligns with India's decarbonization goals, supporting the country's aim to achieve 500 GW of green energy by 2030. It will provide industrial, commercial, and residential consumers with enhanced access to reliable and clean energy. AESL secured this project through the Tariff-Based Competitive Bidding (TBCB) route in December 2021 for a period of 35 years, covering the build, own, operate, and maintain basis," Adani Energy Solutions said.
Despite numerous challenges, Adani Energy Solutions said it executed the project in a fast-track mode, taking into consideration the topological challenges while minimizing ecological impact.
"Several innovative approaches were employed during the execution, including the use of high-boom RMC machines for concreting work, high-boom lifts and cranes for tower erections, and the implementation of advanced cybersecurity endpoint solutions through the latest SCADA system. The project also involved round-the-clock work in multiple shifts, allowing for enhanced progress," it said.
Also read: Hot stocks on October 27, 2023: Vedanta, Adani Power, Vodafone Idea, RVNL, Swan Energy and more