About AESL
AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is the country’s largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of more than 26,600 ckm and 93,200 MVA transformation capacity. In its distribution business, AESL serves more than 12 million consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. AESL is ramping up its smart metering business and is on course to become India’s leading smart metering integrator with an order book of over 22.8 million meters. AESL, with its integrated offering through the expansion of its distribution network through parallel licenses and competitive and tailored retail solutions, including a significant share of green power, is revolutionizing the way energy is delivered to the end consumer.
Key Milestones
India’s first private power sector player to secure an international investment grade rating
India’s first and only private HVDC transmission line
First Private Company in India to execute 765 KV Transmission lines & Substations in the state of Maharashtra
First company to have executed a typical π (Pi) shape tower at Sami substation with 6 phases Quad Moose strung on same beam
First private company to use a Pre-fabricated steel structure valve hall in India
Raised Rs 8,373 crore via QIP, making it the largest fundraise in the Indian power sector.
Key Business Areas
Power Transmission:-
Adani Energy Solutions Limited (AESL) headquartered at Ahmedabad in Gujarat, is one of the largest private sector power transmission companies in India with a presence across all the regions of India. AESL owns and operates various High voltage AC transmission lines and substations of 132kV, 220kV, 400kV, 765kV voltage level and also High Voltage DC transmission lines and substations of +/- 500kV voltage level. Today, AESL has portfolio of more than 26,600 ckm of transmission lines and around 93,200 MVA of power transformation capacity.
AESL primarily aims at addressing the vast potential in India’s transmission sector and has set an ambitious target to set up 30,000 circuit km of transmission lines by 2030. AESL has invested in the latest technologies resulting in the highest network availability of over 99.7% in the country, which corresponds to the best global standards.
Power Distribution:-
Transmission Overview
Adani Energy Solutions Limited (AESL) headquartered at Ahmedabad in Gujarat, is one of the largest private sector power transmission companies in India with a presence across all the regions of India. AESL owns and operates various High voltage AC transmission lines and substations of 132kV, 220kV, 400kV, 765kV voltage level and also High Voltage DC transmission lines and substations of +/- 500kV voltage level. Today, AESL has portfolio of more than 26,600 ckm of transmission lines and around 93,200 MVA of power transformation capacity.
AESL primarily aims at addressing the vast potential in India’s transmission sector and has set an ambitious target to set up 30,000 circuit km of transmission lines by 2030. AESL has invested in the latest technologies resulting in the highest network availability of over 99.7% in the country, which corresponds to the best global standards.
Smart Metering:-
What is a Smart Meter?
Smart meter is an advanced electricity meter, which empowers consumers by providing real-time insights to optimize electricity usage and reduce bills. Smart meter communicates real time, data driven information, which allows distribution companies to better understand the grid management and consumption pattern leading to improve grid performance and quality of services to the customers. The shift to smart meters lay the foundation for a future smart grid infrastructure in India.
Business Overview
The government of India has embarked on replacing 25 crore conventional meters with smart meters by 2025-26. The Smart Meter National Programme under Revamped Distribution Sector Scheme (RDSS) aims to:
Improve quality, reliability, and affordability of power supplies
Reduce AT&C loss to 12–15% by FY-25
Reduce ACS-ARR Gap to Zero by FY25
AESL with a market leading position is revolutionizing energy management by replacing traditional utility metering systems with advance metering infrastructure. As a service partner to distribution companies, we will install and maintain smart meters across India by offering meter hardware, communication networks, cloud infrastructure and data management systems under the Design-Build-Finance-Own-Operate-Transfer (DBFOOT) model.
AESL has forayed into smart metering business to fulfill India’s aspiration and commitment to achieve the operational and financial efficiencies for distribution companies by strengthening the distribution infrastructure. The company, by leveraging its existing expertise into distribution business in Mumbai & Mundra and with a renewed mindset, is transitioning from a service provider to becoming an integrated solutions platform.
Cooling Solutions:-
Adani Cooling Solutions Limited (ACSL), a wholly owned subsidiary company of Adani Energy Solutions Limited (AESL), delivers a centralized, energy-efficient, sustainable, and low-carbon cooling solutions through the development of the District Cooling System (DCS). ACSL aims to become market leader in DCS market by capturing 40% of the addressable market in India.
Through its distinguished offering, ACSL aims to offer cooling solutions for real estate, industrial, and other allied sectors on a managed services basis, as well as other build-to-suit and fit-for-purpose solutions.
The District Cooling Solutions (DCS) has become a cornerstone of energy-efficient infrastructure in the Middle East, with a very high penetration rate in the cooling space. The India Cooling Action Plan (ICAP) estimates that India’s cooling demand will surge eightfold in the next two decades.
The rising urban population, coupled with a growing per capita cooling need and the emergence of large data centers, has led to a significant shift in the energy landscape. This shift enabled AESL to pivot into the cooling solutions business. It is well positioned to capitalize on the growing DCS opportunity by leveraging existing development, O&M, and consumer expertise.
What is DCS?
The rising temperature, coupled with the increasing demand for space in industrial & commercial budlings alongside the growing utilization of heat-emitting technical equipment has fueled interest in sustainable & energy efficient cooling solution.
District cooling is the modern, centralized and energy-efficient way to air condition cluster of buildings. In a district cooling system, a central cooling plant supplies chilled water through a network of insulated underground pipelines to the buildings, through a heat exchanger absorbing heat from the buildings space and providing air conditioning.
By aggregating the cooling needs of multiple buildings, District Cooling Systems (DCS) create economies of scale, this approach results in 25-30% reduction in primary energy consumption, leading to cost savings and reduced carbon emissions.
Furthermore, unlike standalone AC systems that heavily rely on environmentally hazardous refrigerants, District Cooling Systems (DCS) utilize eco-friendly refrigerant by harnessing natural water sources such as lakes, rivers, and seawater for efficient heat rejection.
Industry Landscape
District cooling in India is increasingly being considered a necessity by the government for urban master plans and smart city projects
The India Cooling Action Plan (ICAP) estimates that India’s cooling demand will surge eightfold in the next two decades. This growth is fueled by the rising demand for space cooling, urban heat, government investments in smart and sustainable cities
As per International Energy Agency (IEA), India will likely become the world’s largest consumer of space cooling by 2050, accounting for 28% of total electricity demand and 44% of peak load
The surge in cooling demand mandates sustainable and energy efficient colling solutions for the commercial real estate, industrial, data centers, and airports.
Cooling as a Service (CaaS) Model
AESL aims to provide sustainable cooling solutions to larger developments offers the District Cooling System (DCS) under Cooling as a Service (CaaS) model.
Cooling as a Service (CaaS) is a modern financial instrument for clean and efficient air conditioning. In the CaaS model, technology provider own the cooling system and bear all operational & maintenance costs, while the customer or end users pay based on the actual cooling units they consume during each billing cycle.
Key Facts
Parent Group: Part of the Adani Portfolio.
History: Established as Adani Transmission Ltd (ATL) in 2015, renamed AESL in July 2023.
Scale: Largest private sector power transmission & distribution company in India.
Reach: Network spans over 16 Indian states, with high network availability.
Recent Performance & Outlook
Reports strong growth driven by new transmission assets and increased demand in distribution.
Secured significant market share in recent transmission bids.
Has an ambitious target to build 30,000 circuit km of transmission lines by 2030.
The company’s closing price on Friday, 09/01/2026, is 960.
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Disclaimer:– The research on the company suggested in the article is for the readers’ information only, and readers should invest in the company’s shares at their own risk or with the advice of a financial advisor. The above article is purely analytical research and not investment advice.
