Lucknow: Adani Energy Solutions Step-Eleven Limited has defended its application to supply electricity to a proposed data centre park in Noida, claiming that its parent company has sufficient financial resources to undertake the Rs 211 crore project without placing any additional burden on existing electricity consumers.
In a detailed reply submitted to the Uttar Pradesh Electricity Regulatory Commission (UPERC) on Nov 2, the company said its parent, Adani Energy Solutions Limited, had an adjusted net worth of Rs 15,155.80 crore, more than 200 times the Rs 63.33 crore equity investment proposed for the project.
The company is seeking a licence to distribute electricity within a data centre park being developed by DC Development Noida Limited in Sector 62, Noida. Explaining its financial position, Adani said its parent company’s total net worth stood at Rs 23,011.26 crore in 2024-25. Even after deducting Rs 7,855.46 crore already committed to other projects, it had sufficient financial strength to support the proposed electricity distribution business. Adani also cited a Rs 2,000 crore solvency certificate issued by Axis Bank to support its claim of financial stability.
On the technical side, the company said electricity would initially be supplied through a 33 kV network. An additional 11 kV network could be developed in the future, depending on requirements, at the company’s own expense. However, Uttar Pradesh Rajya Vidyut Upbhokta Parishad chairman Avadhesh Kumar Verma, in a fresh representation to UPERC on Nov 5, questioned whether the applicant company itself had sufficient funds available.
The consumer body argued that citing the financial strength of a parent company was not enough without documentary evidence showing how the proposed investment would actually be arranged.