Adani Energy Solutions Ltd. (AESL) on Monday announced that it has completed its acquisition of the special purpose vehicle (SPV) for the Khavda Phase IV Part A transmission project, after receiving a letter of intent (LOI) from REC Power Development and Consultancy.
This acquisition reinforces AESL’s leadership in India’s energy transition and consolidates its status as the largest private sector transmission player in the country.
Khavda IVA Power Transmission, the SPV established by RECPDCL to facilitate evacuation of 7 GW of renewable energy from Khavda RE Park under Phase IV Part A package, has been acquired by AESL. The project includes development of a transmission line that will connect 765 kV double circuit lines from Khavda to Lakadia and Khavda to Bhuj in Gujaratwith a transformation capacity of 4,500 MVA.
According Adani Energythe Khavda renewable energy The park, the largest of its kind globally with a planned generation capacity of 30 GW, will play an important role in advancing India’s decarbonisation efforts.
The award of this project to AESL is a critical step towards improving the infrastructure needed to evacuate clean energy. “As the world’s largest renewable energy park, Khavda demands a power evacuation infrastructure that is not only world-class, but also resilient and future-proof,” said Kandarp Patel, CEO of AESL. “This investment will not only establish the critical transmission network needed to evacuate the planned 30 GW of green energy that Khavda will generate, but will also provide much-needed grid stability. AESL is proud to be part of this initiative as this network will play a very important role in the continued flow of green energy to the national grid, driving India’s path to net zero.”
AESL was awarded the project through a tariff-based competitive bidding process (TBCB) and plans to commission it within the next 24 months on a build, own, operate and transfer (BOOT) basis, committing to maintain it for 35 years. The company will invest approximately ₹4,091 crores in developing the 298 km (596 sq mi) transmission project, which will also include installation of 300 MVAr STATCOM and 3 Interconnection Transformers (ICT) of 1500 MVAr, 765/400 kV along with 1 Bus Reactor of 330 MVAr, 765 kV and 1 Bus Reactor of 125 MVAr, 420 kV.
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