LOI received for Lakadia Banaskantha Transco Limited
Ahmedabad, 31 October , 2019: Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, has received the Letter of Intent (LOI) from REC Transmission Projects Company Limited (RECTPCL) to build, own, operate and maintain a transmission project in the state of Gujarat for a period of 35 years.
Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd said, “Both the projects present substantial shareholder value creation as they are significantly value accretive within a relatively short gestation period. It is also a great opportunity to continue our commitment to transmitting bulk green power within the country and catering to India's climate goals.”
The project, “Lakadia Banaskantha Transco Limited,” will comprise approximately 360 ckt kms of 765 kV D/C line along with 765 kV bays at Lakadia and Banaskantha Substations in Gujarat. This project is primarily being constructed to establish Transmission System associated with Long Term Applications from Gujarat’s Wind and Solar Energy Zone in Radhanesda. The transmission line to be constructed in this project shall be used to evacuate power to Lakadia Pooling station.
The project has been awarded to Adani Transmission through Tariff Based Competitive Bidding Process.
About Adani Transmission
Adani Transmission (ATL) is the transmission business arm of the Adani Group, one of India's largest business conglomerates. It is the country’s largest private transmission company with a cumulative transmission network of more than 14,340 ckt kms, out of which more than 11,470 ckt kms is operational. This includes around 2,860 ckt kms in various stages of construction. With India’s energy requirement set to quadruple in coming years, Adani Transmission is fully geared to create a strong and reliable power transmission network and work actively towards achieving ‘Power for All’ by 2022.