Adani Energy buys Khavda project for Rs 4,091 cr

New Delhi: Adani Energy Solutions on Monday said it has acquired a 298-km special purpose vehicle (SPV) of the Khavda Phase IV Part-A transmission project entailing an investment of Rs4,091 crore.

Khavda IVA Power Transmission Ltd, an SPV, was set up by REC Power Development and Consultancy Ltd (RECPDCL) to evacuate 7GW of renewable energy from Khavda RE park, the company said in a statement.

Adani Energy Solutions (AESL) will commission the project in Gujarat in the next 24 months on BOOT (build, own, operate and transfer) basis, it said. The company will invest Rs4,091 crore to build the 298 km (596 ckm) transmission project, as per the statement.