Adani Energy Solutions rises on acquiring KPS III HVDC Transmission [Power]
AI Summary1 min read
TL;DR
Adani Energy Solutions' stock rises after acquiring KPS III HVDC Transmission, enhancing its power transmission and distribution business in India, including operations in Mumbai.
Tags
Power Generation/DistributionPowerAdani Energy SolutionsKPS III HVDC Transmissionpower transmissionIndiaelectricity distribution
The company's power transmission business in India focuses on the execution of new transmission systems under licensing from central and state electricity bodies, and Operations and Maintenance (O&M) of existing assets through outsourced partners. Its distribution business focuses on two aspects. First, expanding its customer base through high reliable & affordable power supply and exceptional customer service provided through continuous investments & technological upgradation. Second, modernising the operating model through Advance Metering Infrastructure to bring operational efficiency, flexibility and become at par with global utilities. Besides, in FY19, the company forayed into the retail electricity distribution space with the acquisition of Mumbai's Power Generation, Transmission and Distribution (GTD) business license. Today, Adani Electricity Mumbai (AEML) caters to many customers in the Mumbai suburbs and Mira-Bhayander Municipal Corporation in the Thane district.