Adani Energy Solutions adds 190 ckm to operational line portfolio in Q2FY26
- October 19, 2025
Adani Energy Solutions Ltd (AESL) added 190 ckm to its portfolio of operational transmission lines during the second quarter (Q2: July to September) of FY26.
In a “Provisional Operational Update” for Q2FY26 filed on stock exchanges, AESL said that it added 190 ckm of transmission lines to its operational portfolio taking the total to 19,642 ckm. With another 7,063 ckm under construction, the total transmission line portfolio of AESL, as of September 30, 2025, stood at 26,705 ckm.
As can be seen from the table, TBCB projects (both operational and under construction) dominate AESL’s power transmission portfolio with a share of 78 per cent with respect to transmission lines and 72 per cent in terms of substation capacity.
During Q2FY26, while AESL did not record any addition to its under-construction portfolio by way of new TBCB projects, the Adani Group entity secured four projects under the regulated tariff mechanism (RTM) framework, aggregating 4,000 MVA of substation capacity and around Rs.700 crore in terms of project value.
As of September 30, 2025, AESL’s under-construction power transmission portfolio was valued at Rs.60,004 crore. The asset base of operational transmission project was valued at Rs.53,729 crore, as of the given date.
AESL, as of September 30, 2025, had a significant 51,475 MVA of transformation capacity under construction, largely dominated by TBCB projects. This substation capacity pipeline is in excess of the operational capacity of 45,761 MVA as of the same date.
It may be noted that AESL had a very eventful Q1FY26 when it fully commissioned three TBCB projects – two interstate and one intrastate. (Read full story)
Smart metering
During Q2FY26, AESL secured a new smart metering mandate of 18.36 lakh meters from group entity Adani Electricity Mumbai Ltd (AEML), taking the overall smart metering portfolio (all under construction) to 24.6 million meters with a combined revenue potential of Rs.29,519 crore.
AESL, in Q2FY26, installed 18.2 lakh new meters taking the cumulative FY26 achievement to 73.7 lakh meters, as of September 30, 2025. The company intends to install a total of 1 crore meters during FY26.
Adani Energy Solutions estimates a pan-India metering opportunity of around 104 million (10.4 crore) smart meters.
Meanwhile, according to government statistics, it is learnt that as of October 15, 2025, a total of 22.43 crore consumer smart meters were sanctioned pan-India, out of which 14.51 crore were awarded. The cumulative achievement, as of October 15, 2025, stood at around 4.38 crore meters. (This pertains only to consumer smart meters, excluding other forms like feeder meters and distribution transformer (DT) meters.)
Featured photograph (source: AESL) is for representation only