Adani Transmission, its subsidiary -- Adani Electricity Mumbai (AEML) and a subsidiary of Qatar Investment Authority (QIA) -- Qatar Holding LLC, have signed definitive agreements for the sale of 25.1% stake in AEML and for shareholder subordinated debt in AEML (the Transaction). The total QIA investment in AEML will be approximately Rs 3,200 crore (equivalent to approximately $450 million).
As part of the Transaction, the company and QIA have agreed definitive plans to ensure that over 30% of the electricity supplied by AEML is sourced from solar and wind power plants by the year 2023. In addition, the company and QIA have agreed a number of other green initiatives to combat climate change and facilitate the transition to a sustainable, low carbon economy.
AEML is the licensee for an integrated power distribution, transmission and generation business that currently serves more than 3 million consumers across a license area of approximately 400 square kilometers in the city of Mumbai, the world’s seventh largest city by size of population. AEML’s market share of Mumbai is approximately 87% by license area, 67% by consumers served and 55% by electricity supplied.
Adani Transmission is a holding company. The company operates as a power transmission company. It is engaged in transmission of electric energy and trading of castor oil.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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