Indian electric power transmission company Adani Energy Solutions Limited (AESL) has acquired a special purpose vehicle (SPV) from REC Power Development and Consultancy.
The SPV, called Khavda IVA Power Transmission, will be used to evacuate 7GW of renewable energy to India’s national grid from Khavda Solar Park, which has a planned generation capacity of 30GW, making it the largest renewable facility in the world.
The 298km Khavda Phase-IV Part-A project will evacuate renewable energy by connecting 765kV double circuit lines from Khavda to Lakadia and Bhuj, which are both located in Gujarat. It will also set up a transformation capacity of 4,500 megavolt-amperes (MVA).
AESL has invested Rs40.91bn to build the project, which includes one 300MVAr STATCOM, three 1,500MVA 765/400kV inter-connecting transformers with a 330MVAr 765kV and one 125MVAr 420kV bus reactor.
The company won the project through a tariff-based competitive bidding process. It will commission the project in the next 24 months on a build, own, operate and transfer basis to maintain it for the next 35 years.
AESL, owned by Indian conglomerate Adani Group, aims to make Khavda a landmark in India’s 2070 net-zero target.
The park is currently under construction and is expected to power more than 16m homes in India every year once it is completed by 2029.
AESL CEO Kandarp Patel commented: “As the world’s largest renewable energy park, Khavda demands power evacuation infrastructure that is resilient and future-ready. This investment will not only establish the critical transmission network required to evacuate the planned 30GW of green power that Khavda will generate but also provide much-needed grid stability.”
In May, AESL announced plans to raise Rs125bn as it seeks to transition from a service provider to an integrated solution platform.
In the same month, the company completed its acquisition of a 100% stake in Essar Transco that included a fully operational 400kV 673 circuit kilometre inter-state transmission line between Mahan and Sipat.
