Adani Energy attains $1 bn funding for Mumbai Transmission Project
POWER & RENEWABLE ENERGY

Adani Energy attains $1 bn funding for Mumbai Transmission Project

Adani Energy Solutions, formerly known as Adani Transmission, has revealed the successful attainment of a financial milestone, securing $1 billion in funds for its transmission asset presently in the developmental phase in Mumbai. The company is poised to kickstart construction activities in coming October.

This financial achievement is part and parcel of a $700 million revolving project finance arrangement established back in October 2021, specifically designated for the company's array of transmission assets undergoing construction. A preceding statement by the company highlighted the distinct revolving structure of this funding facility, offering a comprehensive draw-down capacity of $1.1 billion.

A consortium comprising nine international banks, including DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Société Générale, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and The Hong Kong Mortgage Corporation, have actively participated in this agreement.

Forecasts from Adani Energy Solutions anticipate a surge in Mumbai's electricity demand, projecting a rise to 5,000 Megawatts (Mw) by FY25 from the current peak of 4,000 MW. This recently secured financial closure pertains to the HVDC transmission link, anticipated to bolster grid stability by seamless integration with both state and national grids. Commencement of construction endeavors is earmarked for this October. The sprawling 80-kilometre project is poised to usher in technological enhancements for the city, according to the company's statement.

In an earlier development, Adani Enterprises disclosed a financial accomplishment amounting to Rs  billion for its ingot and wafer manufacturing business. Moreover, AdaniConneX, a joint venture equally shared between Adani Enterprises and EdgeConneX, successfully procured a senior debt facility totaling $213 million in June. These funds are earmarked to support their ongoing data centre projects, boasting a combined capacity of 67 Mw in Noida and Chennai.

Adani Energy Solutions, formerly known as Adani Transmission, has revealed the successful attainment of a financial milestone, securing $1 billion in funds for its transmission asset presently in the developmental phase in Mumbai. The company is poised to kickstart construction activities in coming October.This financial achievement is part and parcel of a $700 million revolving project finance arrangement established back in October 2021, specifically designated for the company's array of transmission assets undergoing construction. A preceding statement by the company highlighted the distinct revolving structure of this funding facility, offering a comprehensive draw-down capacity of $1.1 billion.A consortium comprising nine international banks, including DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Société Générale, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and The Hong Kong Mortgage Corporation, have actively participated in this agreement.Forecasts from Adani Energy Solutions anticipate a surge in Mumbai's electricity demand, projecting a rise to 5,000 Megawatts (Mw) by FY25 from the current peak of 4,000 MW. This recently secured financial closure pertains to the HVDC transmission link, anticipated to bolster grid stability by seamless integration with both state and national grids. Commencement of construction endeavors is earmarked for this October. The sprawling 80-kilometre project is poised to usher in technological enhancements for the city, according to the company's statement.In an earlier development, Adani Enterprises disclosed a financial accomplishment amounting to Rs  billion for its ingot and wafer manufacturing business. Moreover, AdaniConneX, a joint venture equally shared between Adani Enterprises and EdgeConneX, successfully procured a senior debt facility totaling $213 million in June. These funds are earmarked to support their ongoing data centre projects, boasting a combined capacity of 67 Mw in Noida and Chennai.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement