Adani unveils $2.1 B FY26 investment plan
Seven major projects, a large-scale smart meter rollout, and national grid expansion are underway amid record-breaking transmission bidding activity.
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India: Adani Energy Solutions Ltd (AESL) has outlined a capital expenditure plan of $1.8 B – $2.1 B (₹16,000–18,000 crore) for FY26, aimed at accelerating its growth across transmission, smart metering, and power distribution. CEO Kandarp Patel revealed the investment strategy during a recent post-earnings call.
Of the projected capex, $1.4 B – $1.5 B (₹12,000 – 13,000 crore) will be dedicated to transmission infrastructure, $470 M (₹4,000 crore) toward smart meter installations, and $187 M (₹1,600 crore) for distribution network expansion. AESL is currently installing 27,000 smart meters daily—more than any other player in the sector.
The company has a robust pipeline, including $6.3 B (₹54,000 crore) worth of inter-state transmission system (ISTS) projects under bidding. Patel emphasized that as states increase renewable power intake, transmission upgrades will be vital. Maharashtra alone may require $17.6 B (₹1.5 lakh crore) in transmission investments over the next decade.
In FY25, transmission project bidding reached a record $19 B (₹1.62 lakh crore). AESL secured a 28 % share by winning seven projects totaling $5.1 B (₹44,000 crore). Of the 15 projects currently under execution, revenue contributions of $970 M (₹8,260 crore) are expected over the next two to four years.
For FY26, AESL plans to deliver seven major projects – including the pivotal Mumbai HVDC project – with a combined capex of $1.75 B (₹15,000 crore). On the distribution front, the company will bid in Uttar Pradesh’s upcoming privatization and explore licensing in Navi Mumbai. Its smart meter order book stands at 22.8 million units.
Source: Financial Express
#Adani Energy Solutions Ltd#AESL#capital expenditure#ISTS#Kandarp Patel#power distribution#smart meters#transmission projects
