Editor’s Synopsis
- Foray into power distribution business, the most vital function within the power supply chain.
- The newly formed entity, ‘Adani Electricity Mumbai Ltd’ to serve over 3 million customers spread across 400 sq. kms. in the city of Mumbai
- ATL will have 35 Grid substations with approximately 19300 MVA of transformation capacity across the country, by the end of 2018
- Company set to expand the Electricity Distribution Business across key markets leveraging its strong infrastructure & domain expertise
- Adani Transmission Limited will continue to be the largest private sector Transmission and Electricity Distribution Company in the country
Mumbai, August 29, 2018: Adani Transmission Ltd (NSE: ADANITRANS), part of the Adani Group, today announced that it has acquired Reliance Infrastructure’s integrated business of Generation, Transmission and Retail Electricity Distribution. The integrated business includes the Power Generation units based at Dahanu, Power Transmission Network across Mumbai & Maharashtra and the Retail Power Distribution network in Mumbai suburbs.
The acquisition shall be housed in Adani Electricity Mumbai Ltd (AEML), a newly formed entity & a subsidiary of Adani Transmission Limited (ATL). It will serve over 3 million customers spread across 400 sq. kms in the city of Mumbai. This acquisition marks the firm’s foray into the large scale electricity distribution sector, the most vital function within the power supply chain. Business operations at AEML post-acquisition will continue to function seamlessly with the absorption of about 5,000 existing employees across three business areas.
Speaking on the acquisition and expansion of the company Mr. Gautam Adani, Chairman, Adani Group said, “I am delighted to announce our significant launch into large scale city electricity distribution business and are privileged to serve over 3 million consumers in the city of Mumbai. We aspire to enter into electricity distribution business in key cities and districts in India in pursuit of Government of India’s Vision to enable “Power for all by 2020”. We are committed to leverage the experience to emerge as a leading utility in electricity distribution, thereby providing state-of-the-art, reliable and competitive supply experience to all our customers”
Mr. Anil Sardana, Managing Director & CEO, Adani Transmission Ltd & Chairman, Adani Electricity Mumbai Ltd said, “It’s both an honour and privilege to serve the city of Mumbai with one of the most important utilities. “With the ‘power of service’ Adani Transmission will strive to revitalise the customer experience combined with innovative service platforms to improve overall service. Our endeavour would be to make this as a benchmark distribution system, both on network management and customer services. The immense knowledge of Mumbai team would also help us in multiplying our presence at other geographies”
Customers can continue to reach out to us on the easy-to-remember number 19122, for all their queries. AEML will additionally introduce innovative services to ensure that consumers have access to multiple touch points to voice any of their concerns.. Consumers can also reach out to AEML, through the new and improved website, www.adanielectricity.com.
ATL owns and operates 35 Bulk Power Grid substations with approximately 19300 MVA of transformation capacity across the country. ATL will continue to be the largest private sector Transmission & Electricity Distribution Company in the country.
While the M&A advisor for the transaction was SBI Capital Markets, Cyril Amarchand Mangaldas was the legal advisor and the lenders counsel was Luthra & Luthra Law Offices.