Adani Energy Solutions Plans ₹16,000–18,000 Crore Investment for FY26 to Boost Transmission and Smart Metering – EQ
In Short : Adani Energy Solutions has allocated ₹16,000–18,000 crore for capital expenditure in FY26, focusing on transmission, smart metering, and distribution. Around ₹12,000–13,000 crore will be invested in transmission projects, including the Mumbai HVDC project. The company plans to install 70–80 lakh smart meters, aiming for a total of 1 crore meters by March 2026.
In Detail : Adani Energy Solutions Ltd (AESL) has set a capital expenditure (capex) plan of ₹16,000–18,000 crore for the fiscal year 2025–26, marking a significant increase compared to the ₹11,444 crore spent in the previous year. The company intends to channel this funding into several key areas, including transmission, smart metering, and distribution infrastructure, to meet the growing energy demands across India.
A large portion of the planned investment, approximately ₹12,000–13,000 crore, will be dedicated to transmission projects. AESL is planning to commission seven major transmission schemes, with the Mumbai High Voltage Direct Current (HVDC) project being one of the key initiatives. These projects are designed to improve the efficiency and capacity of the transmission network, helping integrate more renewable energy into the national grid.
In the smart metering sector, AESL intends to invest around ₹4,000 crore. The company has secured orders for 22.8 million smart meters from five state distribution companies, with an expected revenue potential of over ₹27,195 crore. AESL aims to install 70–80 lakh smart meters during FY26, targeting a total of 1 crore meters by March 2026. Currently, the company is installing smart meters at a rate of 27,000 per day, the highest in the industry.
The remaining ₹1,600 crore of the capex will be allocated to distribution projects, primarily aimed at strengthening the infrastructure in the Mumbai and Mundra markets. AESL is also preparing to participate in the privatization of power distribution companies in Uttar Pradesh, with the bidding process expected to start soon. Additionally, the company is exploring licensing opportunities in Navi Mumbai to expand its distribution footprint.
AESL’s impressive financial performance supports its ability to undertake these significant investments. For the fiscal year ending March 31, 2025, the company reported a 103% increase in profit after tax, reaching ₹2,427 crore, with total income growing by 42% to ₹24,447 crore. The order book stood at ₹60,000 crore as of March 2025, highlighting a strong pipeline of upcoming projects.
With its focus on strategic investments in transmission, smart metering, and distribution, AESL is positioning itself to be a key player in India’s energy infrastructure. The planned capex is in line with the country’s goals of enhancing energy efficiency, expanding renewable energy integration, and improving service delivery to consumers across various regions.
