U.S.-based global alternative asset manager Apollo Global Management-managed funds, affiliates, and other long-term investors have purchased $500 million (~₹45.96 billion) in investment-grade-rated senior secured private placement notes from ATSOL Global, a subsidiary of Adani Transmission Step-One under Adani Energy Solutions (AESL).

The senior notes will primarily be used to refinance AESL’s bonds maturing in late 2026.

The funding will also provide the company with greater balance-sheet flexibility to pursue long-term capital expenditure initiatives to support its power infrastructure development and distribution across India.

ATSOL holds transmission assets that form part of AESL’s power transmission portfolio in Western and Northern India.

Jugeshinder Singh, CFO at Adani Group, said that the funding from Apollo, supported by its long-duration capital base, aligns well with the stable, long-term cash flow profile of the company’s transmission assets.

As of December 31, 2025, Apollo had approximately $938 billion of assets under management.

ATSOL was incorporated by AESL in December 2025 with an authorized equity share capital of 50,000 shares of ₹10 (~$0.10) each and a paid-up equity share capital of 50,000 shares of ₹10 (~$0.10) each.

In February 2026, AESL secured long-term financing from a consortium of Japanese banks, led by MUFG Bank and Sumitomo Mitsui Banking Corporation, for its ±800 kV high-voltage direct current transmission project to evacuate 6,000 MW of solar energy from Bhadla, Rajasthan, to Fatehpur, Uttar Pradesh.

Last year, AESL won several transmission projects.

It received a letter of intent from PFC Consulting to establish a transmission system to evacuate 2.5 GW of energy from a potential renewable energy zone in Khavda, Gujarat, under Phase V (8 GW): Part C.

It also bagged REC Power Development and Consultancy’s (RECPDCL) transmission project to evacuate 1.5 GW of power from pumped storage projects near Talegaon, Maharashtra.

In the same year, AESL won RECPDCL’s ₹250 billion (~$2.89 billion) Bhadla-Fatehpur High Voltage Direct Current transmission project to evacuate 6 GW of renewable energy.