### **Company Overview** Advait Energy Transitions Limited (AETL), formerly known as Advait Infratech Limited, is a publicly listed energy infrastructure company headquartered in Ahmedabad, Gujarat. Rebranded in **July 2023**, the transformation marked a strategic pivot from traditional power infrastructure toward a comprehensive player in the **new and renewable energy (NRE)** ecosystem. Founded in **2009/2010**, AETL has executed over **450 projects across 45+ countries** in power transmission, substation, and telecom infrastructure. AETL operates through two core business segments: 1. **Power Transmission Solutions (PTS)** 2. **New & Renewable Energy (NRE)**, managed via its subsidiary **Advait Greenergy Private Limited (AGPL)** The company aims to become a **global leader in the energy transition**, combining decades of infrastructure expertise with cutting-edge clean energy technologies. --- ### **Core Business Segments & Operations** #### **1. Power Transmission Solutions (PTS)** The PTS segment remains the backbone of AETL’s current revenue, contributing **92% of total revenue in Q1 FY26**, driven by strong execution in grid modernization and distribution strengthening under government schemes like RDSS and System Improvement Projects. **Key Products & Services:** - **Optical Ground Wire (OPGW):** Dual-purpose cable for grounding and high-speed communication. A leading domestic manufacturer, AETL has installed over **20,000 km** of OPGW across 132 kV to 765 kV systems for clients like PGCIL, GETCO, and Sterlite Power. - Revenue: ₹95.4 crore in FY25 (32% of total) - **Aluminium Clad Steel (ACS) Wire:** High tensile strength, corrosion-resistant conductors used in OPGW and HTLS applications. - Annual capacity: 4,900 MT (expandable to 8,000 MT) - Tensile strength up to 1,800 MPa - Revenue: ₹18.5 crore in FY25 (6% of total) - **Stringing & Erection Tools:** Supplies over 100 specialized tools (e.g., winches, aerial rollers, clamps) used in high-voltage line construction. - Exports to **30+ countries** - Records set in global supply; holds ~50% market share in India - Revenue: ₹47.6 crore in FY25 (16% of total) - **Emergency Restoration System (ERS):** Indigenous, Make-in-India solution designed to restore power within **48 hours** across 33kV–800kV systems post-failure. - Over 90% domestically sourced - First unit delivered to PGCIL in Nov 2023 - Record order bookings; new manufacturing facility to be commissioned soon - Targeting **35% domestic market share** - **EPC Services:** Specializes in **live-line OPGW installations** (over 25,000 km completed), reconductoring with HTLS conductors, and underground cabling projects. **Manufacturing Hub – Kadi, Gujarat:** - 9,000 sq. meters (~70,000 sq. ft.) state-of-the-art facility - Integrated production of ACS, OPGW, ERS, stringing tools - Advanced capabilities: 14+1 stranding lines, 500 kN UTM, 2-micron precision video metrology - Annual OPGW capacity: 8,000+ km A **second facility in Gangade, Gujarat** is under development, and a larger **150,000 sq. m industrial complex near Ahmedabad (Dholera Highway)** is set to become operational by **September 2026**, integrating green hydrogen, fuel cells, and high-capacity conductors. --- #### **2. New & Renewable Energy (NRE)** Launched in 2023, the NRE division, spearheaded by **AGPL**, positions AETL at the forefront of India’s green energy transition under the National Green Hydrogen Mission. **Key Focus Areas:** - **Green Hydrogen (GH2)** - **Battery Energy Storage Systems (BESS)** - **Solar EPC Projects** - **Electrolysers & Fuel Cells** - **Carbon & Sustainability Services** ##### **Green Hydrogen & Electrolyser Manufacturing** - **300 MW Electrolyser Manufacturing Facility** under development in Kadi, Gujarat, with phase-one capacity of 120 MW/year. - Secured **300 MW allocation under MNRE’s PLI Scheme (SECI)**, valued at ₹300 crore in subsidies. - Technology licensed from **Jiangsu Guofu Hydrogen Energy Equipment (China)**: - Enables **99.99% hydrogen purity without a separate compressor** - Modular systems: 0.3/0.5/1 MW stacks → 2/4/8 MW modules → multi-MW clusters - Executed: - **India’s first green hydrogen EPC project** (300 kW electrolyser + 70 kW PEM fuel cell microgrid) for THDC in Rishikesh - 1 MW green hydrogen project for KPI Green (commissioning expected by June 2025) - Pipeline: 15 MW+ projects awarded; targeting 1 GW of electrolyser capacity by **2030** ##### **Fuel Cell Development & Joint Ventures** - Formed a **51:49 JV with TECO2030 (Norway)** to manufacture **PEM fuel cells** in India for locomotive, marine, and stationary applications. - Collaboration with **AVL List GmbH (Austria)** in fuel cell stack design. - R&D with **Carbon Technology Energy (CTE)** to develop **carbon-based fuel cell plates**, improving efficiency. - **Fuel cell assembly operations** expected to begin in **FY26–FY27** ##### **Battery Energy Storage Systems (BESS)** - Secured **50 MW / 100 MWh BESS project** from GUVNL on **BOO (Build, Own, Operate)** basis - Also awarded **180 MW / 360 MWh BESS EPC project** in Sanand, Gujarat - Long-term plan to develop **1 GW of BESS projects** over five years - Applications: solar integration, EV charging, grid stability (frequency regulation, voltage control) ##### **Solar EPC** - Active execution of **167.5 MW** ground-mounted solar projects - Notable contracts: - 30 MWp at Khavda for KPI Green (completed) - 100 MWp for Adani Green - 67.5 MWp for KPI Green - Revenue from Solar EPC: **₹96.07 crore in FY25 (94% of total revenue)** - Target: Complete **500 MW of solar EPC by 2026–27** ##### **Carbon & Sustainability Services** - Offers end-to-end **carbon neutrality consulting**, **IREC certification**, **emissions reduction strategy**, and **carbon credit trading** - Portfolio: **40+ projects (~200 MW)** across solar, wind, hydro, waste-to-energy - Manages **over 2 million carbon credits**, expected to grow tenfold by 2028 - Services support industrial clients in achieving net-zero goals --- ### **Strategic Growth & Partnerships** - **Global Alliances:** - TECO2030 (Norway): Fuel cell tech for SAARC & maritime markets - AVL (Austria): PEM fuel cell stack development - Jiangsu GuoFu (China): Electrolyser technology transfer - Haryana Gas Distribution Ltd.: 2,000 MTPA green hydrogen plant - **Indigenous Innovation:** - India’s first **indigenous ERS** (with CSIR-SERC) - First **green hydrogen microgrid** project in India - Development of **domestically branded electrolyser** under AETL IP - **International Expansion:** - Exports stringing tools to 30+ countries - First EPC projects in Middle East & Africa (bids ongoing) - First order secured in Malaysia (Level-N projects) - **Government & Policy Alignment:** - Beneficiary of **PLI Scheme** for electrolyser manufacturing - Active in **RDSS, SI schemes**, and green energy tenders by SECI, GUVNL - MoU with **Government of Gujarat** for ERS manufacturing & testing facility --- ### **Financial & Operational Highlights (as of Nov 2025)** - **Solar EPC:** ₹96.07 Cr (FY25) – primary revenue driver - **OPGW Sales:** ₹95.4 Cr (32% of FY25 revenue) - **Strong Year-on-Year Growth:** - Reconductoring HTLS projects: **+100% YoY** - DISCOM Projects: **+354% YoY** - ACS & Stringing Tools: +20% & +19% YoY - **EPC Execution Excellence:** Over 50 km of HTLS line completed ahead of schedule for GETCO; 1,000 km OPGW charging in a single month for UPPTCL