The State Government Plans To Give Adani Group Responsibility of Collecting Electricity Bills In Hyderabad


Adanicase1181

Uploaded on Jul 25, 2024

Category Business

The conglomerate has been working towards increasing its electricity distribution network for a long time now. With this recent acquisition, it will be able to increase its hold over that particular business sector. It will also be able to maintain a stable cash flow. The company can also gain the trust of big lenders like Adani SBI.

Category Business

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The State Government Plans To Give Adani Group Responsibility of Collecting Electricity Bills In Hyderabad

State Government Plans To Give Adani Group Responsibility of Collecting Electricity Bills In Hyderabad This is a big win for the Adani Group in the power generation sector. The conglomerate has been working towards increasing its electricity distribution network for a long time now. With this recent acquisition, it will be able to increase its hold over that particular business sector. It will also be able to maintain a stable cash flow. The company can also gain the trust of big lenders like Adani SBI. The State Government’s Decision The Chief Minister of Hyderabad, Revanth Reddy, revealed his decision to hand over electricity bill collections during an informal meeting with media representatives. The announcement was made during his recent visit to Delhi. The Chief Minister mentioned that 60% of the electricity bills charged in the Old City are being actually received. So this is leading to a huge economic burden on the government. This is the major reason why the Hyderabad government has decided to deligate the responsibility of collecting electricity bills to the Adani Group. The Revenue Model of the Project A major aspect of the agreement is the revenue-sharing model. As per the Chief Minister, 25% of the revenue collected from the electricity bill will be transferred to the Adani Group. The remaining 75% will be added to the state government’s revenue collection. The arrangement was finalised after multiple discussions, and an agreement was also signed between the Adani Group and the state government. Adani ECulrerecnttlyr,i Acdiatnyi Electricity is one of the top electric distribution companies in India. It has an enhanced presence in the electricity sector. It is responsible for supplying power to some of the most pronounced states. It also has an enhanced presence over the Mumbai electricity network. In fact, Adani Electricity is the largest integrated power utility company in India and is responsible for providing continuous power to cater to the needs of the people. THANK YOU