Adani Energy Secures 7 GW Khavda Transmission Project

2 Sep 2024 , 03:22 PM

Shares of Adani Energy Solutions Ltd increased on September 2, following the announcement of a new contract to evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park into the National Grid.

At the time of writing, shares of Adani Energy Solutions Ltd is trading at ₹1034 which is a 2.68% dip than the previous close. Adani Energy Solutions Ltd stock has gained a total of 26% in the last one year, and almost 1.96% dip since the beginning of the year.

The company announced on September 2 that it has completed the acquisition of the Khavda Phase IV Part-A transmission project after receiving a letter of intent from REC Power Development and Consultancy Ltd.

The Khavda IVA Power Transmission Ltd, a special purpose vehicle established by RECPDCL, will handle the evacuation of 7 GW of renewable energy from Khavda Renewable Energy Park under the Phase IV Part-A package.

The Khavda IVA transmission line will play a key role in the National Grid, facilitating the transport of 7 GW of renewable energy. It 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 Renewable Energy Park is recognized as the largest in the world, with a planned generation capacity of 30 GW.

Adani Energy Solutions secured the contract through a Tariff-Based Competitive Bidding (TBCB) process. The project will be completed within 24 months on a Build, Own, Operate, and Transfer (BOOT) basis, with a maintenance period of 35 years.

The company plans to invest ₹4,091 Crore to develop the 298 km (596 circuit kilometers) transmission project. This includes setting up a 300 MVAr Static Synchronous Compensator (STATCOM) and other necessary transformers and bus reactors.