Qatar to invest $450 million in Adani’s Mumbai power business
Qatar Investment Authority (QIA) is investing $450 million (about ₹3,200 crore) in Adani Electricity Mumbai Ltd (AEML), the flagship power transmission asset of billionaire Gautam Adani.
Adani Transmission Ltd (ATL), the parent of AEML, said in a stock exchange filing that the investment is for AEML’s 25.1% stake and subordinated debt. It did not provide the quantum of equity and debt.
As part of the transaction, Adani Transmission and QIA have also agreed that more than 30% of the electricity supplied by AEML will be sourced from solar and wind power plants by 2023.
