Power Move
Adani Energy acquires 2 SPVs of PFC Consulting for INR 384.29 mln
This story was originally published at 21:05 IST on 15 October 2024
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MUMBAI – Adani Energy Solutions Ltd. has acquired two special purpose vehicles of PFC Consulting Ltd. for a total of INR 384.29 million, Power Finance Corp. Ltd., the parent company of PFC Consulting, said in a disclosure to exchanges Tuesday. The Adani group company has taken over Jamnagar Transmission Ltd. and Navinal Transmission Ltd., both wholly-owned subsidiaries of PFC Consulting.
PFC Consulting sold Jamnagar Transmission for INR 192.85 million to Adani Energy Solutions. Jamnagar Transmission was set up for the development of "network expansion scheme in Gujarat for drawl of about 3.6 GW (gigawatt) load under Phase-I in Jamnagar area".
Navinal Transmission Ltd., which was established for the development of "network expansion scheme in Navinal (Mundra) area of Gujarat for drawal of power in the area" was sold for INR 191.44 million.
On Tuesday, shares of Adani Energy Solutions closed 2.3% higher at INR 22.30 on the National Stock Exchange. End
Reported by Srijita Bose
Edited by Tanima Banerjee
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