Adani Energy Solutions Acquires Satara Power Transmission

New Delhi: State-owned Power Finance Corporation on Wednesday said that its arm PFC Consulting transferred a project special purpose vehicle (SPV), Satara Power Transmission, on October 6 to Adani Energy Solutions, which emerged as the successful bidder.

PFC Consulting was the coordinator for the bidding process for the SPV, Satara Power Transmission, which was established for the development of ‘Transmission System for Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW) – Part A’, an exchange filing said.

According to the filing, PFC Consulting received a consideration of Rs 19,01,24,505, as per the Share Purchase Agreement.

This acquisition is completed and proposed to further Adani Energy Solutions Ltd’s (AESL) strategy for enhancing value for its shareholders through organic as well as inorganic opportunities, AESL informed the stock exchanges.

The Satara Power Transmission Ltd (SPTL) has been planned to facilitate an additional 765 kV inter-regional corridor between SR and WR Grids (Narendra – Kolhapur – Satara – Pune III / Pune (East) 765 kV corridor) and will enable further additional evacuation of RE power in Karnataka towards load centres and PSP projects in Satara, Pune, MMR areas of Maharashtra.

The SPTL was incorporated and registered with the Registrar of Companies, New Delhi, on July 10, 2026.

The authorised share capital as well as paid-up share capital is Rs 1 lakh only. The equity shares were acquired at the face value of Rs 10 each, AESL said in the filing.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)