Adani Energy Solutions Acquires Mundra I Transmission for Green Energy Push

Mundra I Transmission Limited, a project-specific SPV for green hydrogen power transmission in Gujarat, has been transferred to Adani Energy Solutions. Originally a subsidiary of PFC Consulting, the asset was acquired via successful bidding. The move enhances Adani's green energy initiatives in the region.

Adani Energy Solutions has strengthened its green energy initiatives by acquiring Mundra I Transmission Limited, a special-purpose vehicle created for the development of power transmission systems in Gujarat's Mundra area. This acquisition aims to support the supply of power to green hydrogen and ammonia manufacturing sites.

The transaction was finalized as Adani Energy Solutions emerged as the successful bidder for the asset transfer held by PFC Consulting Limited. The acquisition marks a significant stride for Adani as it focuses on sustainable energy solutions.

Previously, Mundra I Transmission Limited was wholly owned by PFC Consulting, itself a subsidiary of Power Finance Corporation (PFC). The transfer officially occurred on March 20, cementing Adani's commitment to advancing its renewable energy projects.

(With inputs from agencies.)