Adani Energy Solutions

Corporate brand

An Indian electricity-infrastructure company operating transmission, distribution and smart-metering businesses within the Adani Group.

Last updated August 25, 2026

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Overview

Adani Energy Solutions Ltd is an Indian electric-power transmission and distribution company belonging to the Adani Group. The business was established in December 2015 when the Adani Group separated its transmission activities from Adani Enterprises. It initially became the principal custodian of more than 3,800 circuit kilometres of transmission lines associated with power generated at the Mundra Thermal Power Station, including the Mundra–Dehgam, Mundra–Mohindergarh and Tirora–Warora corridors. The company subsequently expanded through acquisitions, competitive transmission projects and the development of regional electricity networks. The company’s activities extend beyond long-distance transmission. Its portfolio includes the operation and maintenance of transmission assets, electricity distribution, urban power utilities and smart-metering programs. Through its Mumbai distribution business, the group serves electricity consumers within a licensed area of Mumbai. Smart metering and related digital-grid activities support the modernization of distribution networks, data-based consumption measurement and more efficient utility operations. The company therefore occupies the network and delivery layer of the electricity system rather than functioning primarily as a conventional power-generation brand. Adani Energy Solutions grew materially through acquisitions between 2015 and 2024. These transactions added transmission projects and operating assets in central, western, northern and eastern India, as well as the Mumbai generation, transmission and distribution business acquired from Reliance Infrastructure. The company also acquired or agreed to acquire assets associated with PFC Consulting, GMR Group, Reliance Infrastructure, KEC International, Kalpataru Power Transmission and Essar. These deals helped build a geographically diversified private-sector transmission platform. In July 2023, Adani Transmission was renamed Adani Energy Solutions. The name change was intended to reflect the company’s broader business mix, including distribution, smart metering and other energy-infrastructure services in addition to transmission. As of April 2025, the company reported or was described as operating a cumulative transmission network of 26,696 circuit kilometres, making it one of India’s largest private-sector electricity-transmission businesses. India remains its principal operating market, and the company continues to function as an energy-infrastructure arm of the Adani Group.

History

Adani Energy Solutions originated in the Adani Group’s expansion into electricity-transmission infrastructure. In December 2015, the group separated its established transmission business from Adani Enterprises and created Adani Transmission as a dedicated listed infrastructure company. At formation, the company assumed responsibility for more than 3,800 circuit kilometres of lines connected with the Mundra Thermal Power Station. These included the Mundra–Dehgam, Mundra–Mohindergarh and Tirora–Warora transmission corridors, giving the new company an initial operating base linked to the group’s power-generation activities. The company used acquisitions and transmission-project opportunities to expand its footprint. In 2015, it acquired three wholly owned subsidiaries of PFC Consulting associated with the Chhattisgarh-Western Region, Sipat and Raipur-Rajnandgaon-Warora transmission projects. In 2016, it acquired transmission assets from GMR Group in Rajasthan and assets connected with Reliance Infrastructure’s Western Region System Strengthening Scheme. These transactions broadened its network beyond the original Mundra-linked assets. A major change in the company’s business profile came from the acquisition of Reliance Infrastructure’s Mumbai generation, transmission and distribution business. Adani Transmission entered into a share-purchase agreement in December 2017, and Reliance Infrastructure shareholders approved the sale of the power business for Rs. 18,800 crore in March 2018. The transaction resulted in Adani Mumbai Electricity Limited, a wholly owned subsidiary that operates electricity distribution in Mumbai. The business serves more than three million consumers across a licensed area of approximately 400 square kilometres, according to the referenced company history. Further Rajasthan expansion followed in 2019 through the acquisition of KEC International’s Bikaner-Sikar transmission asset and PFC Consulting’s Bikaner-Khetri transmission project. In July 2020, the company signed definitive agreements with Kalpataru Power Transmission for the acquisition of Alipurduar Transmission. The transaction added approximately 650 circuit kilometres associated with Bihar and West Bengal. These acquisitions reinforced the company’s strategy of building a large, geographically distributed transmission platform through operating assets as well as project companies. The company increasingly presented itself as a broader electricity-network and energy-solutions provider. Its activities came to include distribution, digital utility systems and smart metering alongside the traditional development, ownership and operation of high-voltage transmission infrastructure. In July 2023, Adani Transmission was renamed Adani Energy Solutions. The new name was intended to capture the expanded scope of the business rather than limit its identity to transmission alone. In May 2024, the company announced the acquisition of Essar’s Mahan-Sipat transmission assets for approximately Rs. 1,900 crore through Adani Transmission Step Two. The transaction was described as consolidating the company’s central-India presence, where it would have four operating assets totaling 3,373 circuit kilometres. By April 2025, the company was described as operating a cumulative transmission network of 26,696 circuit kilometres and as one of India’s largest private-sector power-transmission companies. The company and its group were also affected by the public controversy that followed Hindenburg Research’s January 2023 report. Hindenburg alleged market manipulation and accounting malpractice and disclosed short positions in Adani Group companies. Securities associated with the group fell after the report. Adani rejected the allegations as unfounded and ill-intentioned. This entry records the episode as a reported controversy and does not treat the allegations as proven facts.

2025
Transmission network reported at 26,696 circuit kilometres
[1]Adani Energy Solutionsen.wikipedia.org
As of April 2025, the company was described as operating a cumulative transmission network of 26,696 circuit kilometres.
2024
Essar Mahan-Sipat assets acquisition announced
[1]Adani Energy Solutionsen.wikipedia.org
The company announced a proposed acquisition of Essar’s Mahan-Sipat transmission assets for approximately Rs. 1,900 crore through Adani Transmission Step Two.
2023
Company adopts the Adani Energy Solutions name
[2]Adani Energy Solutions official websiteadanitransmission.com
The company changed its name from Adani Transmission to Adani Energy Solutions in July, reflecting its transmission, distribution, smart-metering and wider energy-infrastructure activities.
2020
Alipurduar Transmission acquisition agreement
[1]Adani Energy Solutionsen.wikipedia.org
Adani Transmission signed definitive agreements with Kalpataru Power Transmission to acquire Alipurduar Transmission, adding approximately 650 circuit kilometres in Bihar and West Bengal.
2019
Additional Rajasthan transmission assets acquired
[1]Adani Energy Solutionsen.wikipedia.org
The company acquired KEC International’s Bikaner-Sikar asset and PFC Consulting’s Bikaner-Khetri transmission project.
2018
Mumbai power-business acquisition completed
[1]Adani Energy Solutionsen.wikipedia.org
Reliance Infrastructure shareholders approved the sale of its Mumbai generation, transmission and distribution business for Rs. 18,800 crore, leading to the creation of Adani Mumbai Electricity Limited as a wholly owned subsidiary.
2016
Expansion through GMR and Reliance Infrastructure assets
[1]Adani Energy Solutionsen.wikipedia.org
Adani Transmission acquired GMR Group transmission assets in Rajasthan and transmission assets connected with Reliance Infrastructure’s Western Region System Strengthening Scheme.
2015
Adani Transmission is established
[1]Adani Energy Solutionsen.wikipedia.org
The Adani Group separated its transmission business from Adani Enterprises and established Adani Transmission in December. The new company became custodian of more than 3,800 circuit kilometres of transmission lines connected with the Mundra power complex.
2015
Initial PFC Consulting asset acquisitions
[1]Adani Energy Solutionsen.wikipedia.org
The company acquired three PFC Consulting subsidiaries associated with transmission projects in Chhattisgarh and the Western Region, including the Sipat and Raipur-Rajnandgaon-Warora corridors.

Products and positioning

A large Indian private-sector electricity-network operator supporting transmission, distribution and grid modernization.

Electricity infrastructure · 2015
Electricity transmission
Transmission is the company’s foundational business. Adani Energy Solutions develops, owns and operates high-voltage electricity networks that move power from generation facilities toward regional distribution systems and major consumption centers. Its portfolio has been assembled through group transfers, competitive projects and acquisitions across several Indian states. The business includes transmission corridors, substations and associated operating infrastructure. By April 2025, the company was described as operating 26,696 circuit kilometres of transmission network.
Utility distribution · 2018
Electricity distribution
The distribution business operates the downstream portion of the electricity system, delivering power from transmission networks to homes, businesses and other customers. Its most prominent urban utility operation is in Mumbai, where Adani Mumbai Electricity Limited serves more than three million consumers across a licensed area of approximately 400 square kilometres. Distribution responsibilities include network operation, maintenance, customer supply and utility-service management.
Smart grid
Smart metering
Smart metering forms part of the company’s broader energy-solutions positioning. Digital meters and supporting information systems can provide more timely consumption data, improve billing and metering controls, and help distribution utilities manage demand and network performance. The activity complements the company’s transmission and distribution assets by adding a digital layer to electricity delivery.
Energy infrastructure services
Transmission asset operation and maintenance
The company’s infrastructure offering includes the long-term operation and maintenance of transmission assets and related network facilities. This involves managing the reliability, availability and upkeep of electricity corridors and substations after development or acquisition. The capability supports the company’s role as an owner-operator of power networks rather than only as a project developer or equipment supplier.

Controversies

2023
Hindenburg Research allegations concerning Adani Group companies
In January 2023, Hindenburg Research published a report alleging market manipulation and accounting malpractice involving Adani Group companies and disclosed that it held short positions in related securities. Shares and bonds associated with the group declined after the report. Adani rejected the allegations as unfounded and ill-intentioned. The episode was a group-level controversy affecting the environment around Adani Energy Solutions; this record does not characterize the allegations as judicially established facts.
Source

2024
Announce acquisition of Essar’s Mahan-Sipat assetsM&A
Background
Adani Energy Solutions sought to consolidate its transmission presence in central India.
Action taken
Through Adani Transmission Step Two, the company announced an agreement to acquire Essar’s Mahan-Sipat transmission assets.
Aftermath
The proposed acquisition was described as adding to a central-India operating portfolio totaling four assets and 3,373 circuit kilometres.
Announced acquisition value. Rs. 1,900 crore (May 2024)
Source
2023
Rename the company Adani Energy SolutionsStrategy
Background
The company’s activities had expanded from transmission into electricity distribution, smart metering and broader energy-network services.
Action taken
In July 2023, Adani Transmission adopted the name Adani Energy Solutions.
Aftermath
The rebrand positioned the company as a broader electricity-infrastructure and energy-solutions platform rather than a transmission-only business.
Source
2020
Agree to acquire Alipurduar TransmissionM&A
Background
The company continued to enlarge its regional transmission platform through acquisitions of operating and project assets.
Action taken
Adani Transmission signed definitive agreements with Kalpataru Power Transmission for the acquisition of Alipurduar Transmission.
Aftermath
The transaction was expected to add approximately 650 circuit kilometres in Bihar and West Bengal.
Source
2018
Acquire Reliance Infrastructure’s Mumbai power businessM&A
Background
Adani Transmission pursued a major expansion from transmission ownership into electricity distribution and urban utility operations.
Action taken
Following shareholder approval, the company acquired Reliance Infrastructure’s Mumbai generation, transmission and distribution business for Rs. 18,800 crore and established Adani Mumbai Electricity Limited.
Aftermath
The transaction created a wholly owned Mumbai utility business serving more than three million consumers in an approximately 400-square-kilometre licensed area.
Transaction value. Rs. 18,800 crore (March 2018)
Source
2015
Acquire three PFC Consulting transmission subsidiariesM&A
Background
The newly established transmission company sought to expand beyond the assets transferred from Adani Enterprises and build a broader Indian transmission portfolio.
Action taken
Adani Transmission acquired three wholly owned PFC Consulting subsidiaries associated with the Chhattisgarh-Western Region, Sipat and Raipur-Rajnandgaon-Warora transmission projects.
Aftermath
The acquisitions added transmission projects in central India and strengthened the company’s initial asset base.
Source

Recent events

2024
Adani Energy Solutions announces acquisition of Essar transmission assets[1]Adani Energy Solutionsen.wikipedia.org
M&A
The company announced an agreement to acquire Essar’s Mahan-Sipat transmission assets for approximately Rs. 1,900 crore through its wholly owned subsidiary Adani Transmission Step Two. The transaction was presented as a way to strengthen the company’s central-India transmission presence.
2023
Adani Transmission renamed Adani Energy Solutions[2]Adani Energy Solutions official websiteadanitransmission.com
Other
The company changed its name from Adani Transmission to Adani Energy Solutions to represent a business portfolio extending beyond transmission into distribution, smart metering and broader energy-infrastructure services.

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