The renewable energy sector in India has received a major boost with the acquisition of the Khavda Phase-IV Part-A transmission project by Adani Energy Solutions Ltd (AESL).
The company confirmed the development in a press release on Monday (2nd September). AESL will evacuate 7 GW of renewable energy from the Gujarat-based Khavda Renewable Energy Park to the National Grid.
According to reports, the company acquired the project through the Tariff-Based Competitive Bidding (TBCB) process and plans to invest a whopping ₹4091 crores.
Adani Energy Solutions Ltd Expands in Khavda with 7 GW Renewable Energy Project ?
— AoI Ventures (@aoiventures) September 2, 2024
?#ADANIENSOL secures ₹4,091 crore Khavda Phase-IV Part-A project to evacuate 7 GW of renewable energy into the National Grid.
?The 298 km transmission project includes a first-ever… pic.twitter.com/KCbYpmKVry
Over the next 2 years, Adani Energy Solutions Ltd will execute the Khavda Phase-IV Part-A transmission project on a ‘Build, Own, Operate, and Transfer (BOOT)’ basis. The company will provide maintenance for a period of 35 years.
As part of the 298 km-long project, AESL will install a 300 MVAr STATCOM to ensure safety and grid stability. It will contribute to India’s decarbonisation goals and help evacuate clean energy from the world’s largest renewable energy park in Khavda.
Businessman Gautam Adani is leading India’s transition towards green energy through the AESL, which currently has a transformation capacity of 61,686 and an MVA transmission network of 21,783 ckm.
“Khavda, the world’s largest renewable energy park, with a planned generation capacity of 30 GW, will immensely contribute to India’s decarbonization journey. The award of this project to AESL boosts the availability of critical transmission infrastructure required for evacuation of clean energy. The Adani Group’s focused approach will also ensure the transformation of Khavda from a barren stretch of land into a landmark in India’s net zero journey,” AESL said in its press release.
‘Proud to play a crucial role in India’s impressive strides in renewable energy’: Gautam Adani
Earlier in December last year, businessman Gautam Adani said, “Proud to play a crucial role in India’s impressive strides in renewable energy as we build the world’s largest green energy park. This monumental project, covering 726 sq km in the challenging Rann desert, is visible even from space.”
“We will generate 30GW to power over 20 million homes. Also, just 150 km away, in our karmabhoomi Mundra, we are creating one of the globe’s most extensive and integrated renewable energy manufacturing ecosystems for solar and wind,” he emphasised.
Gautam Adani added, “This marks a significant milestone in India’s journey towards sustainable energy, underlining our commitment to the Solar Alliance and the Atmanirbhar Bharat initiative.”
