Adani to spend Rs 2,000Cr on 2 Mumbai transmission lines

The corporation is allocating more than Rs 2,000 crore towards the construction of two fresh transmission lines within the city. This effort forms a crucial component of their strategy to fortify their network, aligning with the company's shift towards greater environmental sustainability. They aim to derive up to 60 percent of the city's energy requirements from renewable sources. The two newly planned transmission lines encompass the 84 CKm Kharghar-Vikhroli line, situated in the northeastern outskirts of the city, as well as the Thane-Aarey Colony line. The completion of the Vikhroli line is anticipated by 2025.

 

Integral to this initiative is the establishment of a 400-kV substation, projected to augment transmission capacity by 1,500 megawatts. This is in anticipation of the city's peak energy demand, which is anticipated to surpass 5,000 megawatts by FY25, up from the current 4,000 megawatts.

 

The company has made substantial advancements in augmenting the provision of eco-friendly energy to the urban landscape. Catering to over 34 lakh customers, equating to 6 percent of the city's total consumers, they have escalated the supply of solar and wind energy by a factor of 10 in the past three years, elevating the current contribution to 30 percent from the mere 3 percent of three years prior.

 

The transmission lines project encompasses the development of the city's inaugural 400 kV substation facility. The Kharghar-Vikhroli venture encompasses a total of 34 kilometers of 400 kV and 220 kV transmission lines, along with the integration of a 400 kV substation at Vikhroli.

 

Recently, Adani Energy Solutions secured financial closure amounting to USD 1 billion from international lenders for its green transmission link project. This funding falls under the scope of the USD 700 million revolving project finance program, which was initiated in October 2021 to support its ongoing portfolio of transmission assets. Participating financial institutions include DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Societe Generale, Standard Chartered, Sumitomo Mitsui Banking Corporation, and Hong Kong Mortgage Corporation.

 

Source: Media Reports

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