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Adani Electricity brings Green Energy to Mumbai Customers

Posted On: 2021-04-07 08:24:52 (Time Zone: Arizona, USA)

Mumbai's largest electricity distributor, Adani Electricity Mumbai Limited (AEML) will play a pivotal role in Mumbai's transition towards green energy. To enable all customers to achieve their targets and aspirations for renewable energy, AEML is launching Mumbai Green Energy Initiative. Under this program, customers will have a flexibility to set their own targets for renewable energy.

AEML is committed to sustainability and aligned to India's commitments under the Paris Agreement to achieve renewable energy targets. AEML will source over 30% of its energy requirement through renewable energy by 2023 and further increase this share to 50% by way of consent already being sought from MERC to add additional 1000 MW of RTC Power with more than 51% component from RE Power.

AEML customers can approach for

1. Options to buy RE Power under current MERC announced scheme of providing 100% RE Power, by paying 66 paisa extra.

2. AEML will be able to provide RE Certificates to customers as AEML will receive 700 MW supply from Hybrid solar and wind generation in Rajasthan towards end of 2022-23. It will also add an additional 1,000 MW power with substantial component of green energy (Already, put up for approval of MERC).

Pursuant to MERC's approval, AEML (as all other Discoms of Maharashtra) are now offering its customers the option of meeting 100% of their energy requirement through Renewable Energy for an additional tariff of 66 paisa per unit.

AEML's new initiative will help its customers who have global footprint and have stated the goal of sourcing 25% or higher share of their total energy consumption from renewable sources, the same can be met through RE certificates. This innovative step will be significant contribution for customers to meet their sustainability goals.

Through a combination of direct renewable energy supply and indirect offsets, AEML will enable its corporate customers to meet their sustainability commitments at Mumbai, India and global level.

Mr. Kandarp Patel, CEO and MD, AEML said "As the company significantly scales up its renewable energy projects, AEML will empower its customers to choose the source of their energy, making green electrons accessible to everyone and enabling the green energy transition. We can guarantee 100% green energy supply and certificates in Mumbai, without any modifications or disruptions. We will create customized renewable energy solutions for all customers to take full advantage of the renewable energy opportunities and achieve their sustainability goals."

This Mumbai Green Energy Initiative is a voluntary program and is for existing AEML consumers and prospective customers. All existing and new customers are eligible to participate. AEML will issue monthly certificates to such customers stating the percentage (%) of power requirement that has been sourced through renewable energy.

AEML urges its customers to participate in this innovative initiative for a sustainable future. AEML welcomes all members of RE100, a global initiative bringing together the world's most influential businesses committed to 100% renewable power.

AEML is focused to provide its customers with affordable, reliable, and sustainable electricity supply. Serving a diverse set of residential, commercial, and industrial customers, AEML understands the aspirations of every individual consumer.

Shares of Adani Transmission Ltd was last trading in BSE at Rs.1054.85 as compared to the previous close of Rs. 1109.9. The total number of shares traded during the day was 156872 in over 5305 trades.

The stock hit an intraday high of Rs. 1120.55 and intraday low of 1054.45. The net turnover during the day was Rs. 167055026.

Source: Equity Bulls

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