Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state.

The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double-circuit transmission line and augmentation of the Kolhapur pooling station, together with associated transmission infrastructure. The company said the work will back pumped storage deployment across Satara, Pune and the Mumbai Metropolitan Region and enhance power flows between southern and western India. Capital expenditure for the scheme was described as approximately the announced value.

The project, titled Network Expansion Scheme in the Western Region to Cater to Pumped Storage Potential near Satara (up to 4,500 MW) - Part A, was awarded to an AESL-headed special purpose vehicle, Satara Power Transmission Ltd, with AESL emerging as the lowest bidder. The delivery timeline is 36 months and the project will add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity. Upon completion AESL's cumulative network will reach 29,739 circuit kilometres and 143,425 MVA.

Following the announcement shares opened with an upside gap at Rs 1,617 on the NSE and touched an intraday high of Rs 1,634.90 from an intraday low of Rs 1,588.80, taking the stock close to its 52-week high of Rs 1,789. The company noted the project will improve grid stability and enable renewable growth, and the firm affirmed continued commitment to building transmission infrastructure that supports decarbonisation goals.