Adani Transmission Limited (ATL), Adani Electricity Mumbai Limited (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 percent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
The total QIA investment in AEML will be approximately INR 3,200 Crore ($450 million).
AEML is the licensee for an integrated power distribution, transmission and generation business that currently serves more than 3 million consumers across a license area of approximately 400 square kilometers (154 square miles) in the city of Mumbai, the world’s seventh-largest city by size of population. AEML’s market share of Mumbai is approximately 87 percent by license area, 67 percent by consumers served and 55 percent by electricity supplied.
As part of the transaction, ATL and QIA have agreed to definitive plans to ensure that over 30 percent of the electricity supplied by AEML is sourced fr
