Ahmedabad (Gujarat) [India], September 2 : Adani Energy Solutions Ltd (AESL) on Monday stated that it has completed SPV acquisition of Khavda Phase IV Part-A transmission project after receiving a letter of intent (LOI) from REC Power Development and Consultancy.
The company also added that the award of this project further strengthens AESL's position as a leader in India's energy transition and consolidates its position as the largest private sector transmission player in India.
Khavda IVA Power Transmission, a special purpose vehicle (SPV,) set up by RECPDCL for evacuating 7 GW of Renewable Energy (RE) from Khavda RE park, under Phase IV Part A package, has been acquired by AESL to execute the project.
The company added that the Khavda IVA transmission line, part of National Grid, will help evacuate 7 GW of RE by connecting 765 kV double circuit lines from Khavda to Lakadia and Khavda to Bhuj (both in Gujarat) and setting up transformation capacity of 4,500 MVA.
As per the statement by the company, Khavda, the world's largest renewable energy park, with a planned generation capacity of 30 GW, will immensely contribute to India's decarbonization journey.
The award of this project to AESL boosts the availability of critical transmission infrastructure required for evacuation of clean energy. The Adani Group's focused approach will also ensure the transformation of Khavda from a barren stretch of land into a landmark in India's net zero journey.
"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, 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" said Kandarp Patel, Chief Executive Officer, AESL.
The company won the project through the Tariff-Based Competitive Bidding (TBCB) process and will commission the project in the next 24 months on BOOT (Build, Own Operate, and Transfer) basis and maintain it for the next 35 years.
The company will invest approximately Rs 4,091 crore to build the approx. 298 km (596 ckm) transmission project. The project also includes setting up of 300 MVAr STATCOM and 3x1500 MVA, 765/400 kV Inter-connecting Transformer (ICTs) with 1x330 MVAr, 765 kV and 1x125 MVAr, 420 kV bus reactors.
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