Adani Electricity Mumbai Limited became the number 1 power company in India
April 11, 2023: Adani Electricity Mumbai Limited became the number 1 power company in the country Adani Electricity has been ranked first with an A+ grade in the 11th edition of the ‘Annual Integrated Rating and Ranking’ of power distribution companies in the country by the Ministry of Power.
Adani Electricity Mumbai Limited (Adani Electricity) has been ranked top among 71 power distribution companies in the country based on overall governance including financial stability, operational excellence and external environment.
In the 11th edition of the ‘Annual Composite Rating and Ranking’ of the country’s power distribution companies by the Ministry of Power, Adani Electricity ranked first with an A+ grade and achieved the highest composite score of 99.6 out of 100.
The rating report released on Monday was prepared by McKinsey & Company and the assessment made in the report is based on three financial years between 2019-2020 to 2022-2023.
Kandarp Patel, MD, Adani Electricity Mumbai Limited, says, “Over the last five years our customer centric focus, supported by cutting-edge technologies like SCADA, automated workflow management and digital first thinking has enabled us to reduce and stabilize costs.
He added, “These efforts have made us one of the most competitive power providers not only in Mumbai but in India, and this has been recognized by the Power Finance Corporation and the Ministry of Power
A testament to our commitment to serve our customers… We will continue to expand our services and infrastructure to better global standards… We are also committed to doubling our share in renewable energy to 60 percent. ..”
According to the report, Adani Electricity is the best and only private company to feature in the top five, and is one of the 15 companies that did not receive negative marking.
As per the framework approved by the Ministry of Power, the nodal agency Power Finance Corporation Limited has been conducting annual integrated rating and ranking continuously since 2012.
In which 71 electricity distribution companies including 45 state distribution companies, 14 private electricity distribution companies and 12 electricity departments were included.
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