Adani Energy Solutions Ltd (AESL) on Wednesday said it has got Letter of Intent to acquire Halvad Transmission from PFC Consulting.
Halvad Transmission, a special purpose vehicle, has been set up by PFC Consulting for evacuating 7GW of renewable energy (RE) from Khavda RE park, Gujarat.
AESL would be investing Rs 3,000 crore to build, own, operate and maintain the 301 km (656 circuit kilometer or ckm) transmission project for a period of 35 years, a company statement said.
AESL won the project through tariff-based competitive bidding and will commission it in next 24 months.
Khavda RE park is touted to be the world’s largest RE park, with green energy generation capacity of 30,000 MW.
Halvad transmission line, a part of National Grid, will help evacuate 7GW of RE by connecting Khavda to Halvad (also in Gujarat).
“The 7GW Khavda Project will go a long way in making additional renewable energy available for the consumers and we will use latest technology to commission this project with minimal environmental impact," said AESL Managing director Anil Sardana.
The project win further consolidates AESL’s market-leading position and takes its network (installed and undercommissioning) to 20,518 ckm and 53,161 MVA of transformation capacity.