November 29, 2022 CW team
An Adani Group-owned company has applied for a license to expand its power distribution operations in additional areas of Mumbai, including JNPT, the nation’s largest container port.
Adani Electricity Navi Mumbai (AENM) announced in an advertisement that it and its publicly traded parent Adani Transmission have applied to the Maharashtra Electricity Regulatory Commission (MERC) for a distribution license in some areas of the Mumbai metropolitan region.
The company is trying to get an electricity distribution license in Mulund and Bhandup, two Mumbai suburbs that are served solely by state-run Mahadiscom, as well as Thane, Navi Mumbai, Panvel, Kharghar, Taloja and Uran districts.
The group, whose holdings include Adani Ports, is also vying to provide power to JNPT, the nation’s largest container port, which is located near Navi Mumbai.
Since the Electricity Act was amended to make it more open, this app is the first of its kind created by a player. MERC accepted the application and as a result the public notice was published.
By the end of the first five years after getting the license, the Adani group will reportedly serve over 5 lakh customers. According to the public announcement, Pranav Adani and the nominees for the listed company own only a small portion of AENM, with Adani Transmission owning over 99 percent of the equity.
AENM’s directors include energy veterans Anil Kumar Sardana, Rohit Soni and Mehul Rupera.
Adani Electricity, which competes with Tata Power in the market, has been distributing electricity in Mumbai for over four years. The company, which entered the fray after spending over 180 billion rupees to buy struggling Reliance Energy from Anil Ambani Group, has failed to increase its market share in the regions it serves.
See also:
Adani Electricity to spend Rs 5 billion on smart metering in Mumbai
Power transmission arm integrated by Adani Transmission