AHMEDABAD: In a move to further consolidate its position as the largest private sector transmission player in India, Adani Energy Solutions Ltd (AESL) on Monday said it has completed the acquisition of Khavda Phase-IV Part-A transmission project.
The 298 km, Rs 4, 091 crore project will evacuate 7 GW of renewable energy from Khavda renewable energy (RE) park into the national grid.
AESL won the project through the tariff-based competitive bidding (TBCB) process and will commission the project in the next 24 months and maintain it for the next 35 years.
“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, 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, ” Patel added.
Khavda IVA Power Transmission Ltd, a special purpose vehicle (SPV) set up by REC Power Development and Consultancy Ltd (RECPDCL) for evacuating 7 GW of RE from Khavda RE park, was acquired by AESL to execute the project.
AECL has received a letter of intent (LOI) from REC Power Development and Consultancy Ltd, strengthening its position as a leader in India's energy transition.
AESL will now have 21, 783 ckm of transmission lines and 61, 686 MVA of transformation capacity.
With a planned generation capacity of 30 GW, Khavda, the world’s largest RE park, will immensely contribute to India’s decarbonisation journey.
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, said the company.