Adani Transmission ltd—an Adani Group company, has acquired three wholly-owned subsidiaries of PFC Consulting limited (PFCCl) in Chhattisgarh.
PFC Consulting limited is a wholly-owned subsidiary of Power Finance Corporation limited (PFCl) — a Central public sector undertaking.
The companies acquired by Adani Transmission ltd are —”Chhattisgarh-WR Transmission limited” for System Strengthening for IPPs in Chhattisgarh and other Generation Projects in Western Region, “Sipat Transmission limited” for Additional System Strengthening for Sipat STPS and “Raipur-Rajnandgaon-Warora Transmission limited” --the Additional System Strengthening Scheme for Chhattisgarh IPPs (Part-B).
Adani Transmission ltd acquired the above three companies from PFC Consulting limited (PFCCl) pursuant to competitive bidding process carried out by PFCCl.
With these new acquisitions and upon completion of these projects, Adani Transmission ltd’s transmission network will increase from 5051 circuit kms to 6435 circuit kms , the company informed the BSE in its filing.
On the other hand, the Power Finance Corporation ltd informed BSE in its filing that PFC Consulting limited has transferred on November 23, 2015, three wholly-owned subsidiary companies to “Adani Transmission limited” the investing Affiliate of Adani Power limited, the successful bidder selected through “Tariff based Competitive Bidding Guidelines for Transmission services” issued by Ministry of Power, Government of India.
Notably, Adani Enterprises— the flagship company of the Adani Group on August 24 this year had also signed a Memorandum of Understanding (MoU) with the Chhattisgarh Government to invest Rs 25,000 crore in diversified sectors in the State.
The MoU was signed in a brief programme organized at the Mantralaya in Naya Raipur.
As per the MoU, the Adani Group will manufacture Urea, SNG, Sulphur, thermal power and rice bran oil in Chhattisgarh. This will enable setting up of gas-based industrial projects, drawing in large volume of capital investment, and thereby generating employment opportunities for local people.
The first project to be established would be based on poly-generation from coal, under which coal available in the State will be used for production of ammonia, urea, and SNG. This project will cost around Rs 25,000 crore.
This project includes setting up of a plant for production of urea from coal, SNG plant and coal-based thermal power plant. This project will directly and indirectly generate employment opportunities for nearly 10,000 people while catalysing the socio-economic growth of the State. This is the first of its kind project of Adani group in India, which will be based on artificial energy received from coal, officials stated.
Representatives of Adani Group informed that as per various studies, such kind of project will largely contribute to the economic development of India.
The second project will be of Rice Bran Solvent Extraction and Oil Refinery Plant based on rice. This project will cost around Rs 200 crores and it will generate employment for about 600 persons.
Under this project, nearly 3.30 lakh metric tonnes of rice bran will be utilized for annual production of 66,000 metric tonnes of edible oil. This project is proposed in Rajnandgaon district, which will start within two years.
On the occasion, Commerce and Industry Minister Amar Agrawal, Chairman of Chhattisgarh government’s power companies Shivraj Singh, Chief Secretary to State Government Vivek Dhand, Additional Chief Secretary of Housing and Environment Department N Baijendra Kumar, Secretary Commerce and Industry Department Subodh Kumar Singh, Director Industry Department Kartikey Goyal, Managing Director of Chhattisgarh State Industrial Development Corporation (CSIDC) Sunil Mishra, OSD of Commerce and Industry Department SK Behar, OSD to Chief Minister Vikram Sisodia, and other senior officials were also present.
Notably, Chhattisgarh achieved actual cumulative power generation of 40,173.66 million units (MU) from conventional power stations based in the State of above 25 MW capacity between April-September, 2015, according to the monthly report of the Central Electricity Authority (CEA).
This was compared to 38773.39 MU generated during the corresponding period of the previous year—a growth of 3.61 per cent, it stated.
Chhattisgarh would have 26,012 million units of power available during 2015-16 against the anticipated requirement of 24,980 million units during 2015-16, according to a report of the Central Electricity Authority (CEA).
The State would have 1032 million units (MU) of surplus power generated during 2015-16 and the peak requirement is anticipated at 3,825 MW against the anticipated availability of 3,857 MW- a surplus of 32MW, it stated.
As per CEA’s actual power supply position versus load Generation Balance Report ( lGBR) for the year 2014-15, the actual energy shortage in the western region during 2014-15 was higher than the forecasted figure on account of higher energy requirement as compared to availability, the report pointed out.