Adani Energy completes acquisition of ₹4,091 crore Khavda Transmission Project
Adani Energy Solutions Ltd (AESL) has acquired the Khavda Phase IV Part-A transmission project. The company will invest ₹4,091 crore to build the 298 km transmission line, which will help evacuate 7 GW of renewable energy from the world's largest renewable energy park.
Adani Energy Solutions Ltd. (AESL) announced on Monday that it has completed its acquisition of the special purpose vehicle (SPV) for the Khavda Phase IV Part-A transmission project, following the receipt of a letter of intent (LOI) from REC Power Development and Consultancy.
This acquisition reinforces AESL's leadership in India's energy transition and solidifies its status as the country's largest private-sector transmission player.
Khavda IVA Power Transmission, the SPV established by RECPDCL to facilitate the evacuation of 7 GW of renewable energy from the Khavda RE Park under the Phase IV Part A package, has now been acquired by AESL. The project includes the development of a transmission line that will connect 765 kV double circuit lines from Khavda to Lakadia and Khavda to Bhuj in Gujarat, with a transformation capacity of 4,500 MVA.
According to Adani Energy, the Khavda renewable energy park, the largest of its kind globally with a planned generation capacity of 30 GW, will play a significant role in advancing India's decarbonization efforts.
The award of this project to AESL is a critical step in enhancing the infrastructure necessary to evacuate clean energy. "As the world's largest renewable energy park, Khavda demands power evacuation infrastructure that is not only world-class but also resilient and future-ready," said Kandarp Patel, Chief Executive Officer of AESL. "This investment will not only establish the critical transmission network required to evacuate the planned 30 GW of green power that Khavda will generate but also provide the much-needed grid stability. AESL is proud to be part of this initiative as this network will play a very important role in the seamless flow of green energy to the national grid, bolstering India's journey towards net zero."
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AESL secured the project through a Tariff-Based Competitive Bidding (TBCB) process and plans to commission it within the next 24 months on a Build, Own, Operate, and Transfer (BOOT) basis, committed to maintaining it for 35 years. The company will invest approximately ₹4,091 crore in developing the 298 km (596 km) transmission project, which will also include the installation of 300 MVAr STATCOM and 3x1500 MVA, 765/400 kV Inter-connecting Transformers (ICTs) along with 1x330 MVAr, 765 kV, and 1x125 MVAr, 420 kV bus reactors.
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First Published:2 Sep 2024, 11:18 AM IST
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