Adani Energy Solutions Awarded 7 GW Renewable Energy Evacuation Transmission Network in National Grid Evacuation

Adani Energy Solutions Limited (AESL), part of the globally diversified Adani portfolio and India's largest private transmission and distribution company in India, today said that it has received the Letter of Intent (LoI) for the acquisition of Halvad Transmission Ltd. from PFC Consulting Limited (PFCCL).

The Halvad Transmission Ltd., a special purpose vehicle (SPV), has been set up by PFCCL for evacuating 7 GW of Renewable Energy (RE) from Khavda RE park, under Phase III Part A package. AESL won the project through the Tariff-Based Competitive Bidding (TBCB) process and will commission the project in the next 24 months on BOOM (Build, Own Operate, and Maintain) basis.

The world's largest RE park, with a generation capacity of 30,000 MW of green energy, is coming up at Khavda, Gujarat. The Halvad transmission line, part of National Grid, will help evacuate 7GW of RE by connecting Khavda to Halvad (also in Gujarat).

AESL would be investing ~Rs 3,000 crore to build, own, operate and maintain the ~301 km (656 ckm) transmission project for a period of 35 years. The project includes setting up of 765 kV Halvad switching station with 2x330 MVAr bus reactors and Line-In Line-Out of Lakadia - Ahmedabad 765 kV D/c line at Halvad.

Mr. Anil Sardana, MD, Adani Energy Solutions Ltd., said, "AESL is committed to partner with the government and developers of renewable energy to expedite efficient evacuation of renewable energy from the generating regions upto the consumers. 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."

Winning this project further consolidates AESL's market-leading position and takes its network (installed and under-commissioning) to 20,518 ckm and 53,161 MVA of transformation capacity.

Shares of Adani Energy Solutions Limited was last trading in BSE at Rs. 1041.20 as compared to the previous close of Rs. 1028.20. The total number of shares traded during the day was 133687 in over 8838 trades.

The stock hit an intraday high of Rs. 1047.90 and intraday low of 1018.30. The net turnover during the day was Rs. 138685304.00.

Source : Equity Bulls

Keywords

AdaniEnergySolutions INE931S01010 7GW RenewableEnergy EvacuationTransmissionNetwork NationalGrid