Adani Energy Solutions Ltd. (AESL) on Tuesday, November 18, said it has received a Letter of Intent (LOI) from PFC Consulting Ltd. to build the “Transmission System for Evacuation of Power from a Potential Renewable Energy Zone in Khavda, Gujarat under Phase-V (8 GW): Part C.”
The LOI has been issued under the tariff-based competitive bidding (TBCB) route and is subject to customary conditions and the signing of definitive agreements.
The project involves setting up a 2,500 MW HVDC (High Voltage Direct Current) link between KPS III and South Olpad, covering roughly 1,200 circuit kilometres. Once completed, AESL’s total transmission network will expand to 27,905 ckm, and its transformation capacity will rise to 97,236 MVA. The system will facilitate the evacuation of 2.5 GW from the Khavda renewable energy zone, a part of the broader Phase-V plan aimed at enabling evacuation of 8 GW of green power.
AESL reported a 21% year-on-year decline in consolidated net profit at ₹534 crore for the September 2025 quarter, compared with ₹675 crore a year earlier. Revenue from operations, however, grew 6.7% YoY to ₹6,595 crore, up from ₹6,183 crore.
EBITDA jumped 28.1% to ₹2,289.4 crore from ₹1,786.8 crore last year, with EBITDA margins improving to 34.7% from 28.9% in the same quarter.
