Adani Energy Solutions to acquire a transmission project from Megha Engineering

Adani Energy Solutions, formerly known as Adani Transmission, stated that it had paid an unknown sum to Megha Engineering & Infrastructures to acquire a transmission project which is under development. 

In accordance with the transmission service agreement and any necessary consents, the company stated to have signed definitive documents for the acquisition of KPS 1 Transmission Limited with Megha Engineering & Infrastructures. The company also noted that KPS1 has not begun doing business yet.

The interstate transmission system (ISTS) project has been given to Megha Engineering in March of this year under the tariff-based competitive bidding (TBCB) process. The KPS1 Project includes the implementation of the KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and the augmentation of Khavda PS1. The project was initially slated to be completed within 21 months.

It's interesting to note that the Adani group is also building a 20-gigawatt hybrid renewable energy facility in Khavda, Gujarat. This acquisition fits in with the group's overall regional energy strategy.

Source: Media Reports