Adani Electricity Mumbai (AEML) has concluded the open-market repurchase of its senior secured notes worth $49.5 million (~₹4.25 billion).

The transaction is part of a senior secured note issue of $1 billion (~₹86.03 billion) at a coupon rate of 3.9%, secured by AEML in February 2020.

The distribution company (DISCOM) also confirmed its purchase notes were canceled after acquiring the senior secured notes.

The repurchase was funded through AEML’s internal cash flows.

Following these transactions, the outstanding principal amount of senior secured notes is $830.5 million (~₹71.45 billion).

It had also completed open-market repurchases of $120 million (~₹10.32 billion) of $1 billion (~₹86.03 billion) in notes in November 2023.

Subject to market conditions, AEML said it can undertake further liability management exercises from time to time.

Adani Electricity Mumbai secured the highest position with an integrated score of 99.8 at the Ministry of Power’s thirteenth annual integrated ratings and rankings report for the financial year (FY) 2024. AEML sold a net energy volume of 9,813 million units during the year.

Its aggregate technical and commercial losses reduced from 6.48% in FY 2023 to 6.12% in FY 2024. The company’s billing efficiency increased from 93.73% to 94.13%, and the average cost of supply–average realizable revenue gap improved by ₹0.91 (~$0.010)/kWh.

AEML plans to add an additional 1,000 MW of renewable energy through long- and short-term power purchase agreements (PPA). It also aims to add a 75 MWh battery energy storage system capacity.

In FY 2024, the company opted for a green tariff for its transmission and distribution equivalent of 42% of auxiliary consumption. It sourced an estimated 4,000 MW of green power for the end consumer during this period.

In the same period, AEML also entered a 25-year PPA to procure 700 MW of wind-solar hybrid power annually at a tariff of ₹3.24 (~$0.037)/kWh.

In May 2025, the company invited bids to procure 500 MW/4,000 MWh of energy storage capacity along with an additional 250 MW/2,000 MWh under the greenshoe option from pumped hydro storage projects or battery energy storage systems.