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<keyword id="2687606" type="PERSON" weightage="20" keywordseo="Adani-Transmission">Adani Transmission</keyword> Ltd on Thursday reported a 22 per cent rise in its consolidated net profit for the April-June quarter at Rs 433.34 crore. During the same period of the last fiscal, the company had reported a consolidated net profit of Rs 355.40 crore. Its total income during the period under review was Rs 2,935.72 crore, higher by 15.45 per cent from Rs 2,542.84 crore earned during the first quarter of FY21. In a statement, the company said that the results are a validation of strong fundamentals of Adani Transmission Ltd and reiterates reliability, responsiveness and sustainability of Adani Electricity Mumbai Ltd thus creating value for ATL. "Adani Transmission is constantly evolving and growing into a trend setting organization. ATL's recent acquisitions (<keyword id="3800290" type="PERSON" weightage="20" keywordseo="APTL">APTL</keyword> and <keyword id="11798453" type="UNKNOWN" weightage="20" keywordseo="wktl">WKTL</keyword>) and robust under construction pipeline will further bolster its <keyword id="106831" type="COMPANY" weightage="20" keywordseo="pan-India">Pan-India</keyword> presence, consolidating further its position as the largest private sector transmission company in India and moving it closer to its goal of 20,000 ckt km of transmission lines by 2022," said Anil Sardana, <keyword id="176295" type="ORGANIZATION" weightage="20" keywordseo="MD-CEO">MD &amp; CEO</keyword>, <keyword id="5283750" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd-">Adani Transmission Ltd.</keyword> "ATL is maintaining 24x7 quality power supply despite challenges posed by health and pandemic issues. The journey towards robust ESG framework and practicing the culture of safety is integral to its pursuit for enhanced long-term value creation for all stakeholders," Sardana added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Adani Transmission's net profit grows 22% in the June quarter, revenue up more than 15%

<keyword id="2688212" type="COMPANY" weightage="20" keywordseo="Adani-Transmission-Ltd">Adani Transmission Ltd</keyword> on Saturday said it has entered into a pact with <keyword id="987578" type="PERSON" weightage="20" keywordseo="Essel-Infraprojects">Essel Infraprojects</keyword> to acquire Warora-Kurnool Transmission Ltd (WKTL) for an <keyword id="174605" type="PERSON" weightage="20" keywordseo="enterprise-value">enterprise value</keyword> of ₹3,370 crore. The acquisition is in sync with <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Transmission's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities, ATL said in a statement. ATL, India's <keyword id="11007517" type="UNKNOWN" weightage="20" keywordseo="largest-private-sector-power-transmission">largest private sector power transmission</keyword> and retail distribution company, has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition, it said. The regulatory approval for substitution of original awardee in the contract by ATL has already been received from the <keyword id="103658" type="COMPANY" weightage="20" keywordseo="Central-Electricity-Regulatory-Commission">Central Electricity Regulatory Commission</keyword>. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction, the company said. With this acquisition, which is valued at an enterprise value of ₹3,370 crore, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometres), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution. With this enhanced scale of operations, ATL will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission company in the country, the statement said. Anil Sardana, MD and CEO, Adani Transmission Ltd, said, "The acquisition of WKTL will bolster ATL's pan-India presence, consolidating further its position as the largest private sector transmission company in India. This strategic West to South 765 KV interconnector with Substation in Southern India, completes ATL presence in all regions of the country." This asset will not only increase ATL's size and scale but will also take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022, he said. "The acquisition is a further demonstration of ATL's drive towards differentiated capability through inorganic growth, successful integration &amp; making such assets value accretive, for long term sustainable value creation for its stakeholders," Sardana said. Warora-Kurnool Transmission Ltd will develop, operate and maintain transmission lines aggregating to 1,750 ckt km. The 765 kV inter-state transmission line links Warora-<keyword id="6357155" type="LOCATION" weightage="20" keywordseo="warangal">Warangal</keyword> and Chilakaluripeta-Hyderabad-Kurnool with a 765/400 kV new sub-station at Warangal. The project was awarded through competitive bidding process on a build, own, operate, maintain basis. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/asteroid-apophis-wont-be-hitting-earth-for-at-least-another-century/articleshow/81719171.cms">‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century</a> <a href="https://www.businessinsider.in/science/health/news/making-vaccines-available-to-indians-may-not-be-enough-it-depends-on-how-judiciously-we-employ-them/articleshow/81720507.cms">Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them</a> <a href="https://www.businessinsider.in/thelife/article/madhya-pradeshs-kanha-national-park-hosts-a-special-guest-and-no-its-not-the-tiger/articleshow/81721513.cms">Madhya Pradesh’s Kanha National Park hosts a special guest. And, no, it’s not the tiger</a>

Adani Transmission to acquire Warora-Kurnool Transmission for over ₹3,370 crore

Sri Lanka's Board of Investment has approved the two wind power plants of AdGreen Energy to be built in <keyword id="248936" type="General" weightage="80" keywordseo="mannar" source="Orion">Mannar</keyword> and Pooneryn at a total investment of USD 442 million. According to the statement released by the Board of Investment of Sri Lanka on Friday, it has issued a letter of approval to <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Green Energy Limited, for the two wind power plants. Also, the new project will generate 1,500-2,000 new employment opportunities. The wind power plant in Mannar will operate at a capacity of 250 megawatt (MW) while the wind power plant in Pooneryn will operate at a capacity of 100 MW. The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, will be added to the national grid by 2025. <keyword id="82981" type="General" weightage="50" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings on Thursday affirmed the 'BBB-' ratings on the USD 400 million senior secured notes issued by the restricted group of India-based Adani Transmission Ltd (ATL, BBB-/Stable). The outlook is stable, the statement from Fitch said. The restricted group includes six co-issuers -- Barmer Power Transmission Service Limited, Chhattisgarh-WR Transmission Limited, Hadoti Power Transmission Service Limited, Raipur-Rajnandgaon-Warora Transmission Limited, Sipat Transmission Limited and <keyword id="16465511" type="General" weightage="50" keywordseo="thar-power-transmission-service-limited" source="Orion">Thar Power Transmission Service Limited</keyword> and one non-issuing Special purpose vehicle (<keyword id="6366358" type="General" weightage="50" keywordseo="spv" source="Orion">SPV</keyword>), Adani Transmission (Rajasthan) Ltd (ATRL). The Dhaka Tribune in a report on Thursday said the Adani Group will supply electricity to Bangladesh for the next 25 years. According to the agreement the company signed with the Bangladesh government, Adani is setting up a power plant in the Godda district of Jharkhand and once the plant starts to produce power, it will supply electricity to Bangladesh. The report added that Bangladesh signed the deal with Adani Power back in 2017. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/googles-impressive-magic-eraser-can-now-be-used-on-apple-iphone-and-samsung-galaxy-devicesheres-how/articleshow/98202224.cms">Google's impressive magic eraser can now be used on Apple iPhone and Samsung Galaxy devices—here’s how</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/what-to-expect-at-this-years-mobile-world-congress-2023/articleshow/98205888.cms">MWC 2023: Here's what to expect at this year’s Mobile World Congress</a>

Sri Lanka okays Adani's USD 442-millon wind power plants in Mannar and Pooneryn

Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

Adani Transmission to become net-zero by 2050

New Delhi, Feb 4 () Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, on Tuesday said it raised USD 310 million in foreign currency debt.
 "This USD denominated notes are raised by six wholly owned subsidiaries of ATL amounting to USD 310 million," the company said in a statement.
 The USD notes carries fixed coupon over the tenor of notes, it said without giving details. "These instruments have an amortising structure matching the concession period and revenue profile of the issuer companies."
 "This is the first time that an Indian company has circled up transaction for its proposed US private placement in over a decade. From transmission business, this is first of its kind transaction," the company said.
 ATL said the proceeds will be used to cater to the growing demands for power by expanding network especially in the deficit parts of the country.
 Anil Sardana, MD &amp; CEO, Adani Transmission Ltd, said: "We are delighted to raise these funds from our US stakeholders. This will help us mitigate interest rate risk in our TBCB (tariff-based competitive bidding) projects. Further, we aim to expand our network to meet the growing demands of a T&amp;D sector. The funds will enable us to support efforts toward scaling infrastructure and improving electrification and bridging gap between the supply and demand for power. The placement is a strong endorsement of global investors' confidence in ATL as a value creator and leader in the power sector contributing toward sustainable growth the country."
 Barclays and Bank of America acted as the financial advisors in securing the deal and have held roadshows for the Baa2/BBB- rated borrower over the past few months.
 ATL is the transmission business arm of the Adani Group, one of India's largest business conglomerates. It is the country's largest private transmission company with a cumulative transmission network of more than 14,800 circut kms, out of which more than 11,470 ckt kms is operational. ANZ MKJ

Adani Transmission raises $310 mn

New Delhi, Mar 24 () Adani Transmission Ltd on Tuesday said it has bought back non-convertible debentures (NCDs) worth Rs 125 crore. "The company has bought back 1,250 rated, listed, secured, redeemable, non-convertible debentures having face value of Rs 10 lakh each aggregating to Rs 125 crore on March 23, 2020," the company said in a filing to BSE. Adani Transmission, an Adani group company, is the country's largest private transmission firm with a cumulative network of more than 14,800 circuit km. Shares of the company were trading 3.93 per cent lower at Rs 178.45 on BSE. ABI ABI MRMR

Adani Tansmission buys back NCDs worth Rs 125 cr

New Delhi, Dec 11 () Qatar Investment Authority has agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd - the firm that distributes power to three million consumers in Mumbai - for Rs 3,200 crore.
 Adani Electricity Mumbai Ltd is a part of Adani Transmission Ltd, while Qatar Investment Authority (QIA) is the sovereign wealth fund of the Qatar.
 "Adani Transmission Limited (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
 "The total QIA investment in AEML will be approximately Rs 3,200 crore," a company statement said.
 AEML is the licensee for an integrated power distribution, transmission and generation business that currently serves more than three million consumers across a license area of about 400 square kilometers in Mumbai.
 Its market share of Mumbai is close to 87 per cent by license area, 67 per cent by consumers served and 55 per cent by electricity supplied.
 "As part of the transaction, ATL and QIA have agreed definitive plans to ensure that over 30 per cent of the electricity supplied by AEML is sourced from solar and wind power plants by the year 2023," the statement said.
 "In addition, ATL and QIA have agreed a number of other green initiatives to combat climate change and facilitate the transition to a sustainable, low carbon economy."
 Adani Group Chairman Gautam Adani said his company together with Qatar Investment Authority will work towards improving the reliability of supply and consumer satisfaction.
 "We believe this transaction is a significant step in the journey of the Adani Group, marking the start of a long term partnership with QIA," he said.
 QIA Chief Executive Officer Mansoor Al-Mahmoud said: "We look forward to a long term partnership with the Adani Group, with whom we share an inter-generational perspective on investments and a common vision for the sustainable growth and continued success of AEML".
 Adani Electricity Mumbai Limited said it serves over three million consumers spread across 400 sq km in Mumbai and its suburbs meeting close to 2,000 MW of power demand with 99.99 per cent reliability.
 Adani Transmission Ltd is the transmission and distribution business arm of the Adani Group with a cumulative transmission network of around 14,738 circut km, out of which 11,477 ckt km is operational and 3,261 ckt km is at various stages of construction.
 Al-Mahmoud further said "this investment demonstrates our confidence in India, with whom Qatar shares deep-rooted ties and excellent relations."
 The deal is expected to complete in early 2020 subject to receipt of regulatory approvals and satisfaction of customary conditions precedent.
 SKN Advisors Ltd acted as financial advisor and Cyril Amarchand Mangaldas acted as legal advisor to ATL and AEML on the Transaction.
 JP Morgan acted as financial advisor and Cleary Gottlieb Steen amd Hamilton LLP and AZB and Partners acted as legal advisors to QIA on the transaction. ANZ DRR

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Adani Transmission's net profit grows 22% in the June quarter, revenue up more than 15%

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Adani Transmission to acquire Warora-Kurnool Transmission for over ₹3,370 crore

PTI

Sri Lanka okays Adani's USD 442-millon wind power plants in Mannar and Pooneryn

ANI

Adani Transmission to become net-zero by 2050

IANS

Adani Transmission raises $310 mn

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Adani Tansmission buys back NCDs worth Rs 125 cr

PTI

Qatar sovereign wealth fund QIA buys 25.1 pc stake in Adani Electricity Mumbai for Rs 3,200 cr

PTI

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