Adani Transmission completes acquisition of Bikaner-Khetri transmission project
Adani Transmission (ATL) has signed a share purchase agreement and completed the acquisition of the SPV, Bikaner-Khetri Transmission Limited, incorporated by PFC Consulting Ltd. ATL had won this project through a Tariff Based Competitive Bidding process, and received the Letter of Intent (LoI) in July 2019. ATL will build, own, operate and maintain the transmission project in the state of Rajasthan for a period of 35 years.
The project “Bikaner-Khetri Transmission Limited” consists of approximately 480 ckt kms of 765kV line along with associated transmission system. This project is primarily being constructed to establish Transmission System associated with Long Term Applications from Rajasthan Solar Energy Zone (SEZ) Part-D. With this project, the cumulative transmission network of ATL will reach 14,042 ckt kms of transmission line and 23,280 MVA transformation capacity, out of which approximately 11,477 ckt kms and 18,330 MVA are under steady-state operation. ATL also operates a distribution business serving about 3 million customers in Mumbai.
Anil Sardana, MD & CEO, Adani Transmission Ltd said, “The acquisition of this SPV incorporated for the assets of transmission project in the state of Rajasthan will consolidate ATL’s position as the largest private sector transmission company operating in India. It will further allow the Company to contribute towards sustainable development of renewable energy infrastructure development in the country.”
The win also takes the Company closer to its target of setting up 20,000 ckt km of transmission lines by 2022. The project will bolster the pan-India presence of the company and should strengthen Government of India’s quest to bring about evacuation facilities for Renewable Energy and to contribute towards growing energy demand. This will also help contribute towards achieving generation of 175 GW renewable energy by 2022 and that to lower costs and well on time.
@EPC World Media