Reliance Infra Sells Mumbai Power Portfolio to Adani Transmissions for Rs 18,000 Cr

Reliance Infra and Adani group had signed the pact for 100 per cent stake sale of R-Infra’s integrated business of generation, transmission and distribution of power for Mumbai in December 2017.

adani

Adani Group’s Adani Transmission has acquired Reliance Infrastructure’s integrated business of Generation, Transmission and Retail Electricity Distribution in Mumbai.

Reliance Infra and Adani group had signed the pact for 100 per cent stake sale of R-Infra’s integrated business of generation, transmission and distribution of power for Mumbai in December 2017.

The integrated business includes the Power Generation units based at Dahanu, Power Transmission Network across Mumbai & Maharashtra and the Retail Power Distribution network in Mumbai suburbs.

Additionally, Rs. 18,000 crore worth of new portfolio would be handled by subsidiary Adani Electricity Mumbai (AEM) which will serve 3 million customers spread across 400 sq Kms in the city.

This acquisition marks Adani Group’s foray into the large scale electricity distribution sector, the most vital function within the power supply chain.

Moreover, business operations at AEM post-acquisition will continue to function seamlessly with the absorption of about 5,000 existing employees across three business areas.

Speaking on the acquisition and expansion of the company Chairman, Adani Group, Gautam Adani said, “I am delighted to announce our significant launch into large scale city electricity distribution business and am privileged to serve over 3 million consumers in the city of Mumbai. We aspire to enter into electricity distribution business in key cities and districts in India in pursuit of Government of India’s Vision to enable “Power for all by 2020”. We are committed to leverage the experience to emerge as a leading utility in electricity distribution, thereby providing state-of-the-art, reliable and competitive supply experience to all our customers.”

Customers can continue to reach out to us on the easy-to-remember number 19122, for all their queries. AEM will additionally introduce innovative services to ensure that consumers have access to multiple touch points to voice any of their concerns.

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