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Power Finance Corporation has conducted the Annual Integrated Rating and Ranking exercise following the framework approved by...
Digital Desk: Adani Electricity Mumbai ranks first among India's 71 power distribution companies. Following a company statement issued on April 11, the list is based on parameters such as overall governance, financial sustainability, performance excellence, and external environment.
As stated in the release issued by the Government, Adani Electricity received an A+ Grade and the highest unified score of 99.6 out of 100 in the power ministry's 11th edition of the 'Annual Integrated Rating and Ranking' of the country's power distribution utilities.
McKinsey and Company prepared a report that evaluates the accounts of electricity distribution companies for three fiscal years.
Following databases, Adani Electricity is the only private utility to be rated among the top five on the list, and it is also one of the 15 discoms that received no negative feedback.
Managing Director Kandarp Patel of Adani Electricity Mumbai Ltd. stated that "Over the last five years, the customer-centric focus enabled us to lower and stabilise tariffs, optimise power purchase costs, and improve operational efficiencies through technology interventions, and automated workflow management, and a digital-first policy."
"We will continue to improve the services and infrastructure to top global benchmarks. We also reaffirm our commitment to increasing our renewable energy share to 60%. This is our oath to Mumbai and all of our stakeholders who have supported us on our journey to Number One" Patel mentioned.
Since 2012, the Power Finance Corporation has conducted the Annual Integrated Rating and Ranking exercise under a framework approved by the ministry. The ranking includes 71 power distributors from across the country, including 45 state discoms, 14 private discoms, and 12 power departments.
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