NEW DELHI: Adani Transmission Ltd (ATL) on Friday informed that it has received the letter of intent (LoI) for the acquisition of a renewable energy evacuation system under Khavda-Bhuj Transmission Ltd, worth Rs 1200 crore. The company also bagged the acquisition of Karur Transmission Ltd in Tamilnadu, worth Rs 200 crore.
"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 the government of India for evacuation of renewable energy from the region," said Anil Sardana, MD and CEO, Adani Transmission Ltd.
ATL will build, own, operate and maintain the transmission project in Tamil Nadu and Gujarat for a period of 35 years.
Sardana said the project at Karur Transmission will be ATL’s first-ever ISTS project in Tamil Nadu. The company informed that it had won both projects through the tariff-based competitive bidding (TBCB) process.
ATL’s execution of the project will help evacuate renewable energy from the Karur Tiruppur region and the estimated capex will be more than Rs 200 crore.
With an estimated capex of more than Rs 1,200 crore, ATL’s execution of the project will help evacuate about 3 GW of renewable energy from Khavda, Gujarat.