Adani Energy Solutions Ltd receives LOI from PFC Consulting Ltd

Adani Energy Solutions Limited has received a Letter of Intent (LOI) from PFC Consulting limited for establishment of "Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase-V (8GW): Part C" through Tariff Based Competitive Bidding Process (TBCB). The LOI is subject to customary conditions and execution of binding agreements between the parties.

The project, called "Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase-V (8GW): Part C", includes establishment of 2500 MW HVDC (High Voltage Direct Current) system between KPS III to South Olpad (~1200 ckm) taking AESL's overall transmission network to 27,905 ckm and 97,236 MVA of transformation capacity. The project is designed to facilitate the evacuation of 2.5 GW of renewable energy, comprising of Phase-V scheme which has been planned to enable evacuation of an additional 8 GW RE power from Khavda RE park.

Shares of Adani Energy Solutions Limited was last trading in BSE at Rs. 1027.05 as compared to the previous close of Rs. 1021.70. The total number of shares traded during the day was 104372 in over 5068 trades.

The stock hit an intraday high of Rs. 1036.50 and intraday low of 1012.95. The net turnover during the day was Rs. 107402226.00.

Source : Equity Bulls

Keywords

AdaniEnergySolutions INE931S01010 ElectricUtilities LOI PFCConsulting