Hitachi Energy India Executes Novation Agreement for HVDC Project
Filing Summary
On November 14, 2025, Hitachi Energy India Limited and its consortium partner, Bharat Heavy Electricals Limited, executed a novation agreement with AESL Projects Limited for the High Voltage Direct Current (HVDC) link project. The project, initially contracted with Rajasthan Part I Power Transmission Limited, involves transmitting renewable energy from Bhadla III and Fatehpur. Under the agreement, AESL Projects Limited assumes all rights and obligations of the original contract. All other project terms remain unchanged. This update follows prior disclosures regarding the project’s Letter of Intent and contract execution.
On November 14, 2025, Hitachi Energy India Limited (INHE) and Bharat Heavy Electricals Limited (BHEL) executed a novation agreement with AESL Projects Limited (APL) for the High Voltage Direct Current (HVDC) link project. This project involves the transmission of renewable energy from Bhadla III in Rajasthan and Fatehpur in Uttar Pradesh. The agreement was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The original contract for the project was with Rajasthan Part I Power Transmission Limited (RPPTL). However, RPPTL proposed transferring its obligations to APL, a wholly owned subsidiary of Adani Energy Solutions Limited (AESL). The novation agreement formalizes this transfer, with APL assuming all rights and obligations previously held by RPPTL under the contract.
The project scope and terms, as previously disclosed, remain unchanged. The novation agreement ensures that all past, ongoing, and future rights, liabilities, obligations, and duties of RPPTL are now the responsibility of APL as the incoming party. This update follows earlier communications regarding the receipt of the Letter of Intent and the execution of supply and services contracts for the project.
AESL Projects Limited, formerly known as Adani Energy Solutions Step-Ten Limited, is a subsidiary of Adani Energy Solutions Limited. The company focuses on energy solutions and infrastructure projects, aligning with its parent company’s strategic initiatives in the energy sector.
Hitachi Energy India Limited specializes in power technologies and solutions, focusing on sustainable energy infrastructure. The company is part of the global Hitachi Energy group, which prioritizes innovation and technology in the energy sector to support the transition to renewable energy sources.