Adani Transmission has signed a share purchase agreement and completed the acquisition of WRSS XXI (A) Transco Ltd from REC Transmission Projects Company.
Adani Transmission (ATL), India’s largest private sector power transmission company, has announced that it has signed a share purchase agreement and completed the acquisition of WRSS XXI (A) Transco Ltd, an SPV incorporated by REC Transmission Projects Company.
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 Gujarat for a period of 35 years.
The project “WRSS XXI (A) Transco Limited” consists of approximately 272 ckt km of 765kV line along with an associated transmission system. This project is primarily being constructed to strengthen the Transmission System for relieving over loadings observed in Gujarat Intra-State System due to renewable energy injection in Bhuj PS.
“With the signing of the agreement for execution of transmission project in Gujarat, ATL’s position as the largest private sector transmission company operating in India is consolidated further,” company’s managing director and CEO Anil Sardana said. “It will also allow the Company to contribute towards the Government of India’s quest of achieving generation of 175 GW renewable energy by 2022.”
With this acquisition, the firms’ cumulative transmission network will reach more than 14,000 ckt km of transmission line and more than 23,000 MVA transformation capacity, out of which more than 11,000 ckt km and more than 18,000 MVA are under the steady-state operation, the company said in a statement.
This project 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 while supporting the sustainable development of renewable energy infrastructure development in the country.
In September, ATL had announced that the acquisition of Bikaner-Khetri transmission project in Rajasthan from PFC Consulting. Adani Transmission won the project linked to renewable power generation in Rajasthan through a tariff-based competitive bidding process.
This project is primarily being constructed to establish a transmission system associated with Long Term Applications from Rajasthan Solar Energy Zone (SEZ) Part-0.