Adani Energy Solutions Step-Eleven says parent has funds to support power licence for proposed Noida data centre project
Adani Energy Solutions Step-Eleven in its response the Uttar Pradesh Electricity Regulatory Commission said its parent company has sufficient financial resources support its application to supply electricity to a proposed data centre in Noida, the Times of India reported.
The company has applied for licence to supply and distribute electricity to the ₹211 crore proposed data centre park being developed by DC Development Noida Limited in Sector 62, Noida, it added.
- The report said in a detailed response on 2 November, it claimed parent Adani Energy Solutions has adjusted net worth of ₹15,155.80 crore — over 200x the proposed ₹63.33 crore equity investment for the project.
- It said the costs will not place additional burden on existing electricity consumers of Paschimanchal Vidyut Vitran Nigam Limited (PVVNL).
- It added that parent's total FY25 net worth was ₹23,011.26 crore, and after deducting commitments to other projects ( ₹7,855.46 crore) is “sufficient financial strength to support the proposed electricity distribution business”.
- Further, it also cited a ₹2,000 crore solvency certificate issued by Axis Bank to support its claim of financial stability.
- On technical abilities, the report said the company replied it would start the supply through a 33 kV network and depending on requirement an additional 11 kV network could be developed, at its own expense.
- On estimated loss, it added that the projected figure of 0.5% was not a final assessment.
- On maintenance of the project, the response said that only customers within the data park would contribute to recovering the cost of developing and operating the electricity network, the report said.
There were queries raised about whether the applicants have enough funds to undertake the project. Uttar Pradesh Rajya Vidyut Upbhokta Parishad chairman Avadhesh Kumar Verma wrote to UPERC on 5 November raised the issue.
The body argued that a parent company's finances does not lay out evidence for how the investment would be arranged and has sought independent verification of the proposed electricity network, estimated losses and authorised area of supply, the report added.
Verma added that licence must not be granted until final and satisfactory assessment is complete, it said.
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