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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

<keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s appointing of CEOs has been quite different from other companies in India. So the business experts of the country are curious to know who would fill the gap after Mistry’s exit from <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 Going by the record, Tata has often appointed outsiders and even foreigners to head its concerns. RK <keyword id="104932" type="PERSON" weightage="20" keywordseo="Krishna-Kumar">Krishna Kumar</keyword> moved from <keyword id="46021" type="PERSON" weightage="20" keywordseo="Tata-tea">Tata Tea</keyword> to Indian <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> in 1997. Homi <keyword id="3817876" type="UNKNOWN" weightage="20" keywordseo="khusrokhan">Khusrokhan</keyword>, who came from <keyword id="62362" type="COMPANY" weightage="20" keywordseo="Glaxo">Glaxo</keyword>, first headed Tata Tea and then moved to <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword>. Firdose Vandrevala, a <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> deputy MD was moved to head <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> and was also chairman of the board for <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>. Among the current leadership at Tatas, N Srinath who heads Tata Teleservices, headed <keyword id="6370462" type="CITY" weightage="20" keywordseo="Tata-Communications">Tata Communications</keyword> in the past. Anil <keyword id="828638" type="CITY" weightage="20" keywordseo="Sardana">Sardana</keyword>, current <keyword id="3817874" type="UNKNOWN" weightage="20" keywordseo="md-of-tata-power">MD of Tata Power</keyword>, headed Tata Teleservices before Srinath. 
 There have been instances when the CEOs were removed midterm, much like Mistry. Bickson was replaced mid-tenure and <keyword id="2503475" type="PERSON" weightage="20" keywordseo="Rosling">Rosling</keyword> left unexpectedly, and so was the case of Green and Vandrevala. 
 However, <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> always preferred CEOs to have prior experience of heading companies or businesses and opted to move up CEOs from smaller companies to larger ones. 
 
While appointing Ratan Tata’s successor both the search committee and Tata himself chose Mistry amongst 6 other internal candidates. It was then told that Tata himself would mentor Mistry for a year. While the hunt for perfect candidate is still on, it’s kind of a déjà vu for Tata Sons. With hardly any time left to train new CEOs, Tata may be considering another paratrooper.

Ratan Tata’s choice of next CEO deconstructed

<keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword> said its customer base in Mumbai crossed the 5 lakh mark in April. 
 "We are happy to have achieved this milestone and stay committed to delivering superior services at competitive prices," said <keyword id="175186" type="PERSON" weightage="100" keywordseo="Anil-Sardana">Anil Sardana</keyword>, Tata Power’s managing director. The company added 2 lakh new customers, consuming less than 300 units of power. 
 
Tata Power's consumers, who use less than 300 units, constitute almost 65% of its total consumers in the city. "We are undertaking steady network expansion within the city with a focus on 11 clusters and had 695 km of cable network till March," said Sardana. The company has also added seven additional distribution sub-stations and 118 consumer sub-stations. 
Image: Thinkstock

Tata Power's Consumer Base In Mumbai Surpasses
5 Lakh Mark

<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

Mumbai, May 11 () If the economic activities continue to get impacted for the next four months amid COVID-19 crisis, the regulatory assets of power discoms will increase to up to Rs 90,000 crore, which will then have to be recovered from consumers, an industry expert has said. Regulatory assets in the power sector include previously-incurred losses that are in the nature of deferred expenditure and can be recovered from consumers in future provided allowed by regulatory authorities."Everyone talks about 25-30 per cent dip in demand, but what constitutes behind that is nearly 80-82 per cent is decline in demand from the commercial sector and there is a rise in domestic consumer demand which is subsidised," Adani Transmission CEO Anil Sardana said during a webinar organised by Care Ratings. Whereas the industrial and commercial are the subsidising customers, he said adding that therefore, subsidising revenue has gone down while the subsidised customers are high.According to him, if the situation continues for two months, there will be nearly Rs 30,000-40,000 crore worth of regulatory assets."However, if this continues for four months which is estimated in terms of demand at least, because the industry will actually take time to start to consume as much, that (regulatory assets) would be Rs 80,000-90,000 crore, which is going to reflect in the ARR of the discoms as regulatory assets," he said.Sardana further said that this means a tremendous amount of carrying cost over the next 4-5 years and consumers will see regulatory asset surcharge, and tariffs will have to be paid along with carrying cost which will be a steep burden on customers."The government has announced a Rs 90,000 crore credit line to fund discoms afresh, but what is important is to revive the economy. And for this, the government will have to address key issues of the construction, labour and logistics sectors," Sardana added.He further said that there are thousands of crores of rupees with the government agencies stuck in arbitration which they need to release to ensure that the construction industry survive as liquidity is a key challenge. "Liquidity crisis is not a pandemic related situation but has been impacting the sector even before that. Instead of giving stimulus package, we want the government to at least release the amount stuck in arbitration," he added. PSK HV MKJMKJ

Regulatory assets of discoms may touch Rs 90,000 cr if economy stalls for another 4 mths: Expert

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, Feb 14 () As the sword of Damocles hangs over Vodafone Idea, uncertainty continues to mire the Indian telecom sector which has seen fall of several telcos such as Etisalat DB, Reliance Communications, Sistema Shyam and Aircel. The Supreme Court on October 24, 2019, ruled that statutory dues need to be calculated by including non-telecom revenues in AGR of telcos, leading to huge liabilities of Rs 1.47 lakh crore for telcos already hit by falling revenues due to fierce competition. After facing the ire of the Supreme Court, the Department of Telecommunications asked telecom licence holders to clear entire AGR dues totalling Rs 1.47 lakh crore by the end of Friday. Vodafone Idea Ltd (VIL), whose liability is estimated to be around Rs 53,038 crore including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given. In this matter, Bharti Airtel's liabilities as per last available estimates added up to nearly Rs 35,586 crore, including licence fee and spectrum usage charge dues, Tata Teleservices around Rs 10,000 crore, Telenor (which sold spectrum to Airtel) Rs 1,950 crore. BofA Securities, in a note on Friday, noted "overhang on VIL" and questioned if India is inching towards a two-player market. "Every incremental decision pushes India to a two-telco market," it added. Market watchers, meanwhile, said in the event of any further consolidation in the market, the tariffs could well rise by 10-25 per cent. Vodafone Idea Chairman Kumar Mangalam Birla has said it will shut down business if the company has to pay the entire adjusted gross revenue amount and the government does not come to its rescue. Vodafone Group has said it will not pump in any fresh capital into Vodafone Idea. If the Aditya Birla group subsidiary shuts shop, Vodafone India will be the second-large company after Jet Airways to go belly up under the Prime Minister Narendra Modi government. Vodafone Idea's gross debt, excluding lease liabilities, was Rs 1,15,850 crore as on December 31, 2019, including deferred spectrum payment obligations due to the government of Rs 88,530 crore. There were 13 telecom operators in the market when the Modi-led NDA government came to power in May 2014 but the companies started folding up due to market conditions and rising regulatory costs. Vodafone Group CEO Nick Read last year alleged that British telecom major Vodafone on Monday alleged that regulatory outcomes in India over the past two years have been against every telecom operator, except Reliance Jio. Vodafone Idea has claimed to have invested over 3.1 lakh crore in India which includes 1.39 lakh crore for spectrum payment. The uncertainty around Vodafone Idea has also put risk over jobs of 11,700 direct employees and around 1 lakh indirect jobs. According to Reliance Communications Chairman Anil Ambani, there have been around 20 lakh job losses in the telecom sector. His firm amalgamated mobile business of Russian Conglomerate Sistema-owned SSTL to mitigate the debt burden due to lower margin in the capital-intensive telecom vertical. Later, RCom failed to merge business with Aircel and now both the companies are going through an insolvency process. According to official data, the telecom sector's gross revenue fell about Rs 41,000 crore in three years on account of a dip in mobile services rates between 2016-17 and 2018-19 and the adjusted gross revenue on which the government earns revenue, also declined by around Rs 46,000 crore. PRS ANZ MR

You Searched For "Tata power CEO Anil sardana" and got 8 results

Adani Transmission to become net-zero by 2050

IANS

Ratan Tata’s choice of next CEO deconstructed

BI India Bureau

Tata Power's Consumer Base In Mumbai Surpasses 5 Lakh Mark

BI India Bureau

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

IANS

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

PTI

Regulatory assets of discoms may touch Rs 90,000 cr if economy stalls for another 4 mths: Expert

PTI

Adani Transmission raises $310 mn

PTI

Vodafone Idea faces uncertain future over AGR woes

PTI

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