Adani Energy Solutions acquires 2 SPVs from PFCCL for about Rs 38 cr

Adani Energy Solutions Ltd (AESL) on Tuesday said it has acquired two project special purpose vehicles from PFC Consulting Ltd for cash consideration of about Rs 38 crore.

In two separate BSE filings, AESL stated that on October 14, 2024 it executed share purchase agreements with PFC Consulting Ltd (PFCCL) for acquiring 100 per cent equity shares of Jamnagar Transmission Ltd and Navinal Transmission Ltd.

PFCCL, a subsidiary of Power Finance Corporation, received a cash consideration of Rs 19,28,48,589 for JTL and Rs 19,14,40,997 for NTL.

Jamnagar Transmission Ltd (JTL) is established for the development of network expansion scheme in Gujarat for drawl of about 3.6 GW load under Phase-I in Jamnagar area.

Navinal Transmission Ltd (NTL) aims drawl of up to 4.5 GW load in Mundra area of Gujarat from bulk consumers/ distribution licensee and green hydrogen.