Adani Energy Solutions, a subsidiary of the Indian conglomerate Adani, has been awarded the acquisition and development of the Khavda Phase-IV Part-A transmission project, which will be able to evacuate 7 GW of renewable power from the Khavda Renewable Energy Park, located in India’s Gujarat State. Adani Energy Solutions won the project through a Tariff-Based Competitive Bidding (TBCB) process. The company made the announcement after receiving a letter of intent (LOI) from India’s REC Power Development and Consultancy.
Adani will commission the project within the next two years on a Build, Own, Operate, and Transfer (BOOT) basis and maintain it for 35 years. It will invest INR40.91bn (US$488m) to build the 298 km transmission project. Out of the total 30 GW capacity of the Khavda park, 15 GW of renewable capacity is expected to come online in 2024-2025, while the rest is scheduled for 2026-2027.
At the end of 2023, solar and wind accounted for nearly 24% of installed capacity in India, with respectively 73 GW and 45 GW, while hydropower capacity reached 52 GW. India plans to increase its non-fossil fuel capacity to 500 GW.