Adani Energy Solutions acquires 7 GW Khavda transmission project entailing Rs 4,091 cr investment

New Delhi: Adani Energy Solutions on Monday said it has acquired a 298-km special purpose vehicle (SPV) of the Khavda Phase IV Part-A transmission project entailing an investment of Rs 4,091 crore.

Khavda IVA Power Transmission Ltd, an SPV, was set up by REC Power Development and Consultancy Ltd (RECPDCL) to evacuate 7 GW of renewable energy from Khavda RE park, the company said in a statement.

Adani Energy Solutions (AESL) will commission the project in Gujarat in the next 24 months on BOOT (build, own, operate and transfer) basis, it said.

The company will invest Rs 4,091 crore to build the 298 km (596 ckm) transmission project, as per the statement.

The project also includes setting up 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, it said.

AESL won the project through the tariff-based competitive bidding 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, according to the statement.

"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," AESL Chief Executive Officer Kandarp Patel said.