Adani Energy Solutions Ltd (AESL), formerly Adani Transmission Limited, has strengthened its position in India’s renewable energy sector by acquiring the Khavda Phase-IV Part-A transmission project.
Announced today, this project will evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park in Gujarat to the National Grid, marking a significant step in India’s transition towards green energy.
The shares of Adani Energy Solutions Ltd were trading at ₹1,009.70 up by ₹2.30 or 0.23 per cent on the NSE today at 10.08 am.
AESL won the project through the Tariff-Based Competitive Bidding (TBCB) process and plans to invest approximately ₹4,091 crore.
The project, spanning around 298 km, will be executed on a Build, Own, Operate, and Transfer (BOOT) basis over the next 24 months, with a maintenance period of 35 years.
The Khavda transmission project includes the installation of a 300 MVAr STATCOM, a first for AESL, ensuring grid stability and safety. This infrastructure is crucial for the evacuation of energy from Khavda, the world’s largest renewable energy park, and contributes to India’s decarbonization goals.
This acquisition further solidifies AESL’s leadership in India’s private transmission sector, boasting a transmission network of 21,783 ckm and a transformation capacity of 61,686 MVA