Ahmedabad: Adani Transmission Ltd (ATL) has received Letters of Intent (LOI) from REC Transmission Projects Company Limited (RECTPCL) to build, own, operate and maintain two transmission projects in Gujarat for a period of 35 years. The two projects are: Lakadia Banaskantha Transco Limited and Jam Khambaliya Transco Limited.
The projects have been awarded through a tariff-based competitive bidding process.
The project, "Lakadia Banaskantha Transco Limited," will comprise approximately 360 ckt kms of 765 kV D/C line along with 765 kV bays at Lakadia and Banaskantha substations in Gujarat. This project is primarily being constructed to establish transmission system associated with long-term applications from Gujarat's wind and solar energy zone in Radhanesda. The transmission line to be constructed in this project shall be used to evacuate power to Lakadia pooling station.
The project "Jam Khambaliya Transco Limited" comprises of approximately 40 ckt kms of 400 kV D/C line along with 400 kV substation at Jam Khambaliya in Gujarat. This project is primarily being constructed to establish transmission system associated with long-term applications from Gujarat's wind and solar energy zone in Jamnagar. The associated transmission line in the project shall be used to evacuate power generated by renewable energy generators in Jam Khambaliya region to Lakadia pooling station.
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 transmitting bulk green power within the country and catering to India's climate goals."
Shares of Adani Transmission gained nearly 5 percent on Thursday after the company received LoIs from RECTPCL.