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 ₹4,091 crore.

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

Adani Energy Solutions 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 ₹4,091 crore to build the 298 km (596 ckm) transmission project.

Adani Green

Adani Green Energy on Monday said its board has approved binding documents, including a joint venture agreement, to be signed with TotalEnergies, which would pave the way for an additional $444 million investment by the French energy major in a new 50:50 JV entity.

The Definitive Agreements will be entered into between the company, TotalEnergies and Adani Renewable Energy Sixty Four Limited.

Pursuant to the agreement, TotalEnergies will make further investment, either directly or through its affiliates, of around $444 million to form a new 50:50 joint venture company with Adani Green Energy.

PTI