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November 29, 2022 CV team
The Adani Group-owned company has applied for a license to expand its power distribution operations to additional areas of Mumbai, including JNPT, the country’s largest container port.
Adani Electricity Navi Mumbai (AENM) said in an advertisement that it and its publicly traded parent Adani Transmission have applied to the Maharashtra Electricity Regulatory Commission (MERC) for a distribution license in some areas of the Mumbai metropolitan region.
The company is trying to get a power distribution license in Mulund and Bhandup, two Mumbai suburbs served exclusively by state-run Mahadiscom, as well as Thane, Navi Mumbai, Panvel, Kharghar, Taloja and Uran districts.
The group, whose holding company includes Adani Ports, is also competing to provide power to JNPT, the country’s largest container port, located near Navi Mumbai.
Since the Electricity Act has been changed to make it more open, this application is the first of its kind made by any player. MERC accepted the application, and as a result a public notice was published.
By the end of the first five years after getting the license, the Adani group will reportedly serve over 5 million customers. According to the public notice, Pranav Adani and nominees for the listed company own only a small portion of AENM, with Adani Transmission owning over 99 percent of the equity.
AENM’s directors are power industry veterans Anil Kumar Sardana, Rohit Soni and Mehul Rupera.
Adani Electricity, which competes with Tata Power in the market, has been distributing electricity in Mumbai for over four years. The company, which entered the fray after spending over Rs 180 billion to buy ailing Reliance Energi from the Anil Ambani Group, has failed to grow its market share in the regions it serves.
Also see:
Adani Electricity to spend Rs 5 billion on smart metering in Mumbai
Power transfer arm integrated by Adani Transmission
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