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Adani Energy Solutions Ltd (AESL) announced on Monday that it has successfully completed the acquisition of the Khavda Phase IV Part-A transmission project, following the receipt of a letter of intent (LOI) from REC Power Development and Consultancy Limited (RECPDCL).
This acquisition solidifies AESLs leadership in Indias energy transition and reinforces its status as the largest private sector transmission player in the country.
The project, acquired through Khavda IVA Power Transmission-a special purpose vehicle (SPV) established by RECPDCL-will facilitate the evacuation of 7 GW of renewable energy from the Khavda Renewable Energy Park. This phase of the project involves setting up 765 kV double circuit transmission lines connecting Khavda to Lakadia and Bhuj in Gujarat, and includes a transformation capacity of 4,500 MVA.
Khavda, recognized as the worlds largest renewable energy park with a planned capacity of 30 GW, is expected to play a crucial role in Indias decarbonization efforts. The new transmission infrastructure will be pivotal in evacuating clean energy and enhancing grid stability.
Kandarp Patel, Chief Executive Officer of AESL, emphasized the significance of the project, stating, “As the world’s largest renewable energy park, Khavda requires power evacuation infrastructure that is world-class and future-ready. This investment will not only establish the necessary transmission network for evacuating 30 GW of green power but also ensure grid stability, aiding India’s journey towards net zero.”
The project was secured through the Tariff-Based Competitive Bidding (TBCB) process and is scheduled for commissioning within the next 24 months. AESL will undertake the project on a Build, Own, Operate, and Transfer (BOOT) basis, with maintenance planned for the next 35 years.
The company will invest approximately ?4,091 crore to construct the 298 km (596 ckm) transmission line, which includes the installation of 300 MVAr STATCOM and 3x1500 MVA, 765/400 kV Inter-connecting Transformers (ICTs) along with bus reactors. |
