 "Adani Group, Adani")
Adani Energy Solutions, formerly known as Adani Transmission, announced on Thursday the acquisition of an under-development transmission project from Megha Engineering & Infrastructures for an undisclosed amount.
The company stated that it has entered into definitive documents with Megha Engineering & Infrastructures for the acquisition of KPS 1 Transmission Limited, in a manner consistent with the transmission service agreement and applicable consents. Additionally, the company noted that KPS1 is yet to commence business operations.
Megha Engineering won the interstate transmission system (ISTS) project under the tariff-based competitive bidding (TBCB) mechanism in March this year. 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.
Interestingly, Khavda in Gujarat is also the location where the Adani group is developing a 20-gigawatt hybrid renewable energy park. This acquisition aligns with the group's broader energy strategy in the region.
