Adani Energy Solutions Ltd (AESL) announced on Monday that it has completed the acquisition of the Special Purpose Vehicle (SPV) for the Khavda Phase IV Part-A transmission project, following the receipt of a letter of intent from REC Power Development and Consultancy Ltd (RECPDCL). This acquisition bolsters AESL’s position as a frontrunner in India’s energy transition and strengthens its status as the largest private sector transmission company in India.
The Khavda IVA Power Transmission SPV was established by RECPDCL to evacuate 7 GW of Renewable Energy (RE) from Khavda’s RE park under the Phase IV Part A package. AESL will now execute this project, which is a critical component of the National Grid. The transmission line will connect 765 kV double circuit lines from Khavda to Lakadia and Khavda to Bhuj in Gujarat, with a transformation capacity of 4,500 MVA.
Khavda, regarded as the world’s largest renewable energy park, aims to significantly advance India’s decarbonization efforts with a planned generation capacity of 30 GW. The allocation of this project to AESL is expected to enhance the essential transmission infrastructure for clean energy evacuation. AESL’s focused strategy will transform Khavda from a barren landscape into a pivotal landmark in India’s goal of achieving net zero emissions.
Kandarp Patel, CEO of AESL, stated that the Khavda renewable energy park requires advanced and resilient power evacuation infrastructure. This project will not only provide the necessary transmission network to evacuate 30 GW of green power but will also enhance grid stability. AESL, having secured the project through a Tariff-Based Competitive Bidding (TBCB) process, plans to commission it within the next 24 months on a Build, Own, Operate, and Transfer (BOOT) basis, maintaining it for the next 35 years.
The company has earmarked approximately Rs 4,091 crore for the 298 km transmission project. This includes the installation of 300 MVAr STATCOM and 3×1500 MVA, 765/400 kV Inter-connecting Transformers, along with various bus reactors.
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