Adani Transmission Ltd (ATL), India's largest private sector power transmission company and part of the diversified Adani Group, has received the Letter of Intent (LoI) for the acquisition of a renewable energy evacuation system under Khavda-Bhuj Transmission Ltd.
ATL won the project through the Tariff-Based Competitive Bidding (TBCB) process and has received the LoI for the project. ATL will build, own, operate and maintain the transmission project in Gujarat for a period of 35 years.
The project, Khavda-Bhuj Transmission Ltd, incorporated by PFC Consulting Ltd, primarily consists of the following elements -
- Approximately 220 ckt km of transmission line connecting Khavda pooling station with Bhuj pooling station
- 4,500 MVA, 765 kV Gas Insulated Substation at Khavda
With an estimated capex of more than Rs 1,200 Cr, ATL's execution of the project will help evacuate about 3 GW of renewable energy from Khavda, Gujarat. The project will help shape one of the country's largest solar and wind farms.
Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd said, "We are pleased to be associated with the maiden evacuation system associated with one of the largest hubs of renewable energy being established at Khavda, Gujarat. This project will be the first to be implemented among the slew of transmission projects planned by Government of India for evacuation of renewable energy from the region. ATL is already the leader in building power transmission infrastructure in the private sector and this project will further strengthen our presence in Gujarat."
Winning this project consolidates ATL's market-leading position and takes it closer to its target of setting up 20,000 ckt km of transmission lines by 2022. The project will allow the company to contribute towards the Government of India's quest to achieve Power For All by 2022.
Shares of Adani Transmission Limited was last trading in BSE at Rs. 1769.65 as compared to the previous close of Rs. 1817.55. The total number of shares traded during the day was 2005 in over 272 trades.
The stock hit an intraday high of Rs. 1826.00 and intraday low of 1765.00. The net turnover during the day was Rs. 3559106.00.
Source : Equity Bulls