Adani Transmission Ltd (ATL) has received the letter of intent for developing an intrastate power transmission project in Madhya Pradesh.
ATL won the development rights of this Rs.1,200-crore project under the tariff-based competitive bidding (TBCB) route.
Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has incorporated a special purpose vehicle “MP Power Transmission Package-II Ltd” to develop this project.
ATL will now acquire this SPV and develop the transmission scheme in the build, own, operate, maintain (BOOM) mode, under a 35-year concession period.
The transmission scheme involves the construction of 850 ckm of transmission lines and air-insulated substations (AIS) of 132kV and 220kV ratings. The project will span 18 districts of Madhya Pradesh. “ATL’s execution of the project will strengthen the transmission system in Eastern Madhya Pradesh,” a release from ATL said.
Pan-India presence
According to Anil Sardana, MD & CEO, Adani Transmission Ltd, “As the leader in building power transmission infrastructure in the private sector, we are accelerating our pan-India presence through the competitive bidding process and also setting industry benchmarks in sustainable best practices. This newest project will allow us to contribute significantly to the development of the transmission infrastructure in Madhya Pradesh.”
Also read: Adani To Raise Over $1 Billion To Finance Major Transmission Projects
Impact on portfolio
With this acquisition, ATL’s power transmission portfolio will exceed 33,000 MVA in terms of transformation capacity. ATL is currently the country’s largest private transmission company with a cumulative transmission network of around 18,800 ckm out of which 13,200 ckm is operational and around 5,600 ckm is at various stages of implementation. The Madhya Pradesh project is also expected to bring ATL closer to its target of 20,000 ckm of transmission lines, by 2022.
(Featured photograph for illustration only)
