Adani Transmission bags two projects from REC Transmission in Gujarat

Our Bureau Ahmedabad | Updated on October 31, 2019

Adani Transmission Ltd (ATL) on Thursday said it has received Letters of Intent (LOI) from REC Transmission Projects Company Ltd (RECTPCL) to build, own, operate and maintain transmission projects in Gujarat for a period of 35 years.

The company has received LoIs for the Jam Khambaliya Transco project, comprising approximately 40 ckt km of a 400 kV D/C line, along with a 400 kV substation at Jam Khambaliya in Saurashtra, and the Lakadia Banaskantha Transco project, comprising approximately 360 ckt km of a 765 kV D/C line, along with 765 kV bays at Lakadia and Banaskantha substations in North Gujarat.

Anil Sardana, MD & CEO, Adani Transmission Ltd said, "Both the projects present substantial shareholder value creation, as they are significantly value accretive within a relatively short gestation period. It is also a great opportunity to continue our commitment to transmit bulk green power within the country and cater to India's climate goals."

The project at Khambhalia is being constructed to establish a transmission system associated with the Wind and Solar Energy Zone in Jamnagar. The transmission line will be used to evacuate power generated by renewable energy generators in the Jam Khambaliya region to Lakadia Pooling station.

The project in North Gujarat will establish a transmission system associated with the Wind and Solar Energy Zone in Radhanesda and would evacuate power to Lakadia Pooling station.

Both the projects have been awarded to Adani Transmission through a tariff-based competitive bidding process, an official statement said here.

The company’s shares gained over 3 per cent on Thursday to trade at Rs 273.55 on the NSE.

Published on October 31, 2019

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