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Diamond Power Infrastructure Secures ₹899.75 Crore Contract from Adani Energy

16 July 20242 mins read by Angel One
Diamond Power Infrastructure secures ₹899.75 crore LOI from Adani Energy for AL 59 Conductors, enhancing its role in critical energy projects in India.
Diamond Power Infrastructure Secures ₹899.75 Crore Contract from Adani Energy
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On July 9, 2024, Diamond Power Infrastructure Ltd disclosed to the stock exchange that it has secured a significant letter of intent (LOI) from Adani Energy Solutions Limited worth ₹899.75 crore (inclusive of GST).

The letter of intent pertains to the supply of AL 59 Conductors, which are New Generation Aluminum Alloy Conductors. This contract, awarded on a “Kms rate basis with PV Formula,” is intended for various Transmission Project Contracts by AESL.

The company stated that the completion deadline for executing the order(s) or contract(s) is set for April 2025. This development underscores Diamond Power Infrastructure’s continued involvement in critical infrastructure projects within the energy sector, leveraging its expertise in supplying specialised conductors for transmission projects across India.

This week marks another milestone for Diamond Power Infrastructure Ltd, having secured a significant order from the Adani Group.

On July 8, 2024, the company received a letter of intent from Adani Green Energy Limited, valued at ₹409 crore (inclusive of GST). The order is for the supply of various LV/MV Cables.

The contract, awarded with a completion deadline set for December 2024, underscores Diamond Power Infrastructure’s role in supporting Adani Green Energy’s projects with essential infrastructure components. These successive orders highlight the company’s growing presence in the renewable energy sector and its ability to deliver critical solutions for high-profile projects within specified timelines.

In June 2024, the company established a wholly owned subsidiary named DICABS Nextgen Special Alloys Private Limited. This subsidiary is dedicated to manufacturing wire rods, wire drawing, strip drawing, sheet rolling, cable and conductor production, along with machinery, equipment, components, tools, and related accessories.

About Diamond Power Infrastructure Ltd

Diamond Power Infrastructure Limited is involved in the business of manufacturing, transmitting, and distributing power products and services in India.

On July 10, 2024, the share price of Diamond Power Infrastructure Ltd opened at ₹1,292.45, touching the day’s high at ₹1,292.45, as of 1:08 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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