Adani Electricity Mumbai, a subsidiary of Adani Transmission, is reportedly investing more than INR20bn ($240m) to build two new power transmission lines in Mumbai, India.
The investment is part of the Indian conglomerate’s effort to strengthen its power transmission network as it moves towards sustainability, reported news agency mint.
The transmission lines project involves developing the city’s first-ever 400kV substation facility.
It comprises the 84km Kharghar-Vikhroli line in the northeastern suburb of Mumbai and the Thane-Aarey Colony line.
The Kharghar-Vikhroli project comprises 34km of 400kV and 220kV transmission lines, including a 400kV substation at Vikhroli, and is expected to be completed by 2025.
The project is important to the city of Mumbai, as the existing capacity of the transmission corridor is not adequate to support further power supply into the city, said the publication.
Also, it is expected to bring an additional 1,000MW of power into Mumbai and help meet the future demand of the city.
Last week, Adani Electricity secured INR17bn ($204m) debt from international lenders, for executing the projects led by its parent organisation Adani Transmission.
Adani official told Press Trust of India (PTI): “We hope to begin the work on the project from this October. The Thane line will begin after the first line and will be commissioned in 2027.”
“We will be investing more than INR20bn for this, of which INR17bn will be debt-funded.
“The project also includes setting up a 400kV substation which will raise the transmission capacity by 1,500MW, as the company expects the peak demand for the megapolis to cross the 5,000MW mark by FY25 from around 4,000MW now.”
In addition, Adani Energy Solutions had also secured another $1bn financing from international lenders for its green transmission link project.
The credit facility is part of the company’s $700m revolving project finance initiative dated October 2021 to support its ongoing transmission assets portfolio, said the publication.
DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Société Générale, StanChart, Sumitomo Mitsui Banking, and Hong Kong Mortgage offered the debt financing.
