Adani Energy Solutions Ltd (AESL), on Wednesday, announced that it has received a letter of intent (LoI) 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 will spend Rs 3,000 crore to build, own, operate and maintain the 301 km (656 circuit kilometre or ckm) transmission project for a period of 35 years. According to the company’s statement, it won the project through tariff-based competitive bidding and will commission it in the next 24 months.
Khavda RE park is touted to be the world’s largest RE park, with a green energy generation capacity of 30,000 MW. Halvad transmission line, a part of the 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 the latest technology to commission this project with minimal environmental impact,” said AESL managing director Anil Sardana.
The project wins further consolidate AESL’s market-leading position and take its network (installed and under commissioning) to 20,518 ckm and 53,161 MVA of transformation capacity.
Adani Energy subsidiary to form JV with Esyasoft Holdings
Adani Energy Solutions also said that its arm, Adani Transmission Step-Four (ATSFL), will form a joint venture with UAE-based Esyasoft Holdings (EHL) to implement smart metering projects in India and abroad.
ATSFL and EHL would hold a 49 per cent and 51 per cent shareholding, respectively, in the proposed joint venture with equal participation in the company’s board of directors.
“The agreement has been entered into to enable, inter alia, licensing by EHL to intellectual property rights (IPRs) of software products/solutions for smart meters and other industrial applications and further development of such products/solutions by a joint venture company of ATSFL and EHL,” it stated.
