Adani Acquires Transmission SPV Linked With RE Projects in Rajasthan

Adani Transmission has acquired Bikaner-Khetri transmission project in Rajasthan from PFC Consulting, through a tariff-based competitive bidding process.

Adani Transmission Ltd (ATL) has acquired Bikaner-Khetri transmission project in Rajasthan from PFC Consulting, according to a regulatory filing. Adani Transmission won the project linked to renewable power generation in Rajasthan through a tariff-based competitive bidding process.

ATL signed a share purchase agreement with PFC Consulting on September 19, 2019, for acquiring Bikaner-Khetri Transmission Ltd, a special purpose vehicle (SPV) incorporated by PFC Consulting for the implementation of the project. ATL also completed the acquisition on the same day, the filing said.

The project is primarily being constructed to establish transmission system associated with Long Term Applications from Rajasthan Solar Energy Zone (SEZ) Part-0.

The company will build, own, operate and maintain the transmission project for a period of 35 years. The project consists of approximately 480 circuit (ckt) kms of 765kV line along with associated transmission system.

Recently, we announced that State-owned utility Power Grid Corporation of India (PGCIL) had bagged an inter-state power transmission project under a tariff-based competitive bidding process, which would benefit Rajasthan and Madhya Pradesh. The company was declared as the successful bidder under tariff-based competitive bidding to establish inter-state transmission system associated with LTA (long-term access) applications from Rajasthan SEZ Part-B on a build, own, operate and maintain (BOOM) basis.

Power Grid also said that after winning the bid, it acquired Bhind Guna Transmission Ltd (BGTL) on September 11, 2019, from REC Transmission Projects Company Ltd (the bid process coordinator).

BGTL is the special purpose vehicle to establish the transmission system for intra-state transmission work associated with the construction of 400-kilovolt (kV) substation near Guna in Madhya Pradesh and intra-state transmission work associated with construction of 220 kV substation near Bhind in Madhya Pradesh, on the BOOM basis.

In July, we had reported that the company had been declared the successful bidder under the tariff-based competitive bidding to establish transmission systems for two projects in Gujarat and Rajasthan.