The Adani Group has recently planned on increasing its energy presence in Rajasthan as a part of its diversification process. Adani Energy Solutions, the energy wing of the Adani Group, has acquired a 100% stake in Sangod Transmission Service Limited (STSL) from the Rajasthan Rajya Vidyut Prasaran Nigam Limited. This is one of the biggest ventures of the Adani Group after the Adani SEBI probe and is expected to take the energy segment of the conglomerate to new heights.
The STSL Project:
The STSL project involves implementing a transmission project at the Sangod region in Rajasthan along with a 220/132kV, 160 MVA transformer. The project also includes building an associated transmission line so that electricity can be transmitted to different areas of Rajasthan smoothly and conveniently. The project operations were slightly delayed, supposedly because of the Adani SEBI case, but they are expected to commence with full force in the upcoming months.
The equity shares of the STSL project have been acquired at a face value of Rs. 10 each, while the authorised and paid-up share capital is Rs. 5 lakh. The acquisition is considered a strategic move by the Adani Group to enhance its value for the shareholders through realistic opportunities. The company already operates power transmission networks in different parts of Rajasthan, including Barmer, Suratgarh, Bikaner, etc.
Why Does the Adani Group Want to Increase Its Energy Presence in Rajasthan?
The Adani Group believes that a consistent supply of energy has a big role in ensuring that the livelihood of the people of Rajasthan changes for the better. With a uniform energy supply, the various industries across Rajasthan can operate smoothly and effectively. The homes in Rajasthan will have electricity so that daily operations can be carried out efficiently. This will again ensure that the people of Rajasthan can lead their lives in a much better way without having to face the slightest hindrance.
The Adani Group already has experience in designing transmission lines in different parts of India, and it is looking forward to diversifying its portfolio by enhancing its presence in the energy sector of Rajasthan. The conglomerate also has a high level of expertise and experience in the infrastructure sector. So, it can make use of its existing infrastructure assets in the proceedings of the project. Gautam Adani, the founder of the Adani Group, has always been aiming to increase his control over the energy sector, especially post the Adani SEBI probe. This project will take him one step closer towards achieving his goal.
Other Adani Projects in Rajasthan:
In 2022, the Adani Group announced an INR 65,000 crore investment in Rajasthan to set up a 10,000 MW solar power capacity, upgrade the Jaipur airport and expand the cement plants. The work for these projects will take place during the next 5 to 10 years. The investment is going to help Rajasthan in many different ways. Once the solar power plant becomes operational, the people of Rajasthan will no longer rely on non-renewable energy sources.
The cement plants will increase the Adani Group’s hold over the cement manufacturing industry. This will contribute to the development of infrastructural assets in Rajasthan. The expansion of the Jaipur Airport, which is already under the control of the Adani Group, will further increase the connectivity of Jaipur to the different corners of the globe. The cargo traffic will increase, and people will also find it easier to travel to different parts of the world from Rajasthan.
Adani Group’s Venture into the Power Transmission Sector:
Adani Energy Solutions has commissioned the Kharghar Vikhroli transmission line in Mumbai. This project is the first 400 KV GIS substation in the city to be considered by the Adani Group. The conglomerate has enhanced plans to set up 30,000 circuit km of transmission lines by 2030. It has also invested in various innovative and advanced technologies, which has resulted in a high network availability of 99.7% all over the country. The conglomerate has a transmission network of over 20,000 circuit km across 14 states. This makes the Gautam Adani-led conglomerate one of the most reliable organisations in the power transmission sector.
Conclusion:
In this way, the Adani Group plans to build an excellent energy presence for itself, not just in Rajasthan but worldwide. Yes, the conglomerate faced a lot of hindrances during the Adani SEBI investigations. However, it was cleared of all charges, and it continued its journey towards making India one of the most energy-efficient countries on earth.