Adani Energy Solutions is looking to incur a capital expenditure of Rs 22,000 crore in the current financial year , 55% higher than what it incurred in FY26. In FY26, it incurred a capex of Rs 14232 crore, 24% higher than what it did in FY25. In comparison, its peer Tata Power was looking to invest Rs 25,000 crore in FY26. “In FY27, we will invest Rs 15,500 crore in transmission business, Rs 2,000 crore in distribution and Rs 3,900 crore in smart metering. In FY28, this figure could be between Rs 22,000 – Rs 25,000, with ~Rs 20,000 crore towards transmission alone,” Kandarp Patel, CEO, Adani Energy Solutions said in a post Q4 earnings call with analysts .