Power Grid acquires project SPV 'Khavda IV-E2 Power Transmission'

New Delhi: Maharatna power PSU Power Grid on Friday said that its has acquired a power transmission SPV (Project Special Purpose Vehicle) on May 30 for evacuation of renewable energy from the potential renewable energy zone in the Khavda Area of Gujarat under the tariff-based competitive bidding (TBCB) process.

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According to an official statement, Power Grid has acquired Khavda IV-E2 Power Transmission Limited for the “Transmission System Project for Evacuation of Power from Potential Renewable Energy Zone in Khavda Area of Gujarat under Phase-IV (7GW) Part E2” after competing with various private sector players and emerging as successful bidder in tariff-based competitive bidding (TBCB) process.

According to the company, Khavda IV-E2 Power Transmission Limited shall implement augmentation works at existing substation namely Khavda Pooling Station -2 in the state of Gujarat. The augmentation work shall inter-alia include supply and installation of 4x1500 MVA 765/400 kV ICTs along with corresponding 765kV and 400kV line bays. The Project is an Inter State Transmission System Project and is to be commissioned in 21 months. The said existing substation is also being implemented by another wholly owned subsidiary of Power Grid namely POWERGRID KPS2 Transmission System Limited. Both the Projects shall enable integration of an additional 6 GW (cumulative 9 GW) generation capacity in Khavda RE Park.

Power Grid, though its various projects SPVs which have been acquired through tariff bidding route, is implementing various Transmission System Projects being constructed on build, own, operate and transfer (BOOT) basis. These Projects will augment the Indian transmission infrastructure to evacuate green energy to the national grid thereby reducing dependency on fossil fuels, in line with Government’s vision of achieving 500 GW renewable energy target by year 2030.

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