According to reports from Reuters, ANI, CNBC TV18, Moneycontrol, and The Economic Times, Adani Energy Solutions announced on Friday that it has secured an ₹8,500 crore interstate transmission project in India's Andhra Pradesh state. The project, titled "Transmission System for Proposed Green Hydrogen/Green Ammonia Projects in Vizag Area, Andhra Pradesh (Phase-I)", represents a significant contract win for the energy solutions company in the transmission infrastructure sector, with the company emerging as the most competitive bidder through the Tariff-Based Competitive Bidding (TBCB) framework of the Government of India. The project is scheduled to be completed within 30 months. As per the company's exchange disclosure dated July 24, 2026, Adani Energy Solutions emerged as the most competitive bidder through the Tariff-Based Competitive Bidding route, with the project awarded through the Government of India's competitive bidding process where the company was selected over rival bidders based on the tariff it quoted.
As reported by Reuters, ANI, CNBC TV18, Moneycontrol, and The Economic Times, the transmission project is specifically designed to supply power to proposed green hydrogen and green ammonia projects in the Vizag area, catering to an estimated demand of 4,500 MW. The project will also support the growing load requirement expected from the Pendurthi–Vizag region, where a new wave of data centre and digital infrastructure investments is taking shape. According to AESL CEO Kandarp Patel, the Vizag transmission project is an important step in building the energy backbone for India's next generation of industrial growth. "The Vizag transmission project is an important step in building the energy backbone for India's next generation of industrial growth. It will support the development of green hydrogen and green ammonia capacity in Andhra Pradesh, while also strengthening the grid for emerging digital infrastructure demand in the Pendurthi-Vizag region. As India advances towards a cleaner, more technology-driven economy, AESL remains committed to developing resilient, future-ready transmission networks that enable sustainable growth at scale," Patel stated. The company noted that Visakhapatnam is increasingly emerging as one of India's significant digital infrastructure locations, supported by large-scale AI and hyperscale data centre developments, planned subsea connectivity and associated logistics, clean energy and industrial infrastructure. As investments in AI, cloud computing and green hydrogen gather pace, the region's electricity demand is expected to rise sharply, making grid expansion essential to ensure reliable power supply.
The project will be housed under the Special Purpose Vehicle, Vizag Power Transmission Ltd., with the scope involving establishment of a 4×1,500 MVA, 765/400 kV GIS substation at Pendurthi (Vizag) and a 3×1,500 MVA, 765/400 kV Khammam-II substation. According to the latest reports, this infrastructure will add 1,582 ckm of transmission lines and 10,500 MVA of transformation capacity to AESL's network. With this addition, AESL will expand its overall transmission network to 29,531 ckm and 133,675 MVA of transformation capacity. Once commissioned, the Vizag project will increase AESL's transmission network from 29,531 circuit kilometres to 31,113 circuit kilometres, with transformation capacity rising from 1,33,675 MVA to 1,44,175 MVA. The transmission network is designed to meet an estimated power demand of around 4,500 MW while also catering to the rising electricity needs of data centres and other digital infrastructure planned in the region, with green hydrogen production being highly electricity-intensive and hyperscale data centres requiring uninterrupted, high-quality power.
On Tuesday, July 28, Adani Energy Solutions formally launched its Qualified Institutional Placement (QIP) to raise ₹3,500 crore, with the issue being oversubscribed by 3.1 times, attracting bids worth over ₹10,841 crore from domestic mutual funds, insurers, foreign investors and Azim Premji's investment firm. The QIP closed at an issue price of ₹1,615 per share, representing a 4.9% discount to the SEBI floor price of ₹1,698.15 and a 5.2% discount to the closing market price of ₹1,703.30 on July 27. The company did not exercise the greenshoe option despite strong demand, keeping the fundraising at ₹3,500 crore. Domestic mutual funds and insurance companies were the biggest buyers, with participants including SBI Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, HSBC Mutual Fund, Edelweiss Mutual Fund, Quant Mutual Fund, Kotak Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, Premji Invest, SBI General, and Edelweiss Life. Among foreign investors, Manulife Investment Management, Fiera Capital, Think Investments, and Nippon Offshore participated in the offering. The stock fell as much as 3% to ₹1,650 on BSE during the day, though the institutional demand provides strong read-through for the company's ability to raise capital. The company plans to deploy proceeds towards capital expenditure, loan repayment, acquisitions, and general corporate purposes. The book running lead managers to the issue include Jefferies, SBI Capital Markets, ICICI Securities and IIFL Securities. The company has board approval to raise up to ₹10,000 crore through the QIP route, with shareholders approving the special resolution at an Extra-Ordinary General Meeting last Saturday.
The project win comes shortly after Adani Energy Solutions reported strong June quarter results, as reported by CNBC TV18. The company posted a net profit of ₹1,149 crore, more than doubling from ₹512 crore a year earlier, representing a 124% year-on-year jump. Revenue from operations rose 42% to ₹9,711 crore from ₹6,819 crore, while EBITDA increased 30% to ₹3,008 crore from ₹2,314 crore. However, the EBITDA margin narrowed to 31% from 33.9% in the year-ago period. The strong earnings momentum continues to support the company's market position and ability to execute large-scale transmission projects like the Vizag project. Earlier, the company announced that it has signed a binding securities purchase and subscription agreement to acquire IntelliSmart Infrastructure, a smart metering joint venture between NIIF and EESL, for ₹3,050 crore. The acquisition will strengthen Adani Energy Solutions' position as India's largest smart metering platform, with over 4.7 crore smart meters under management.
