REC Power Hands Over Major Transmission Projects to Adani and Sterlite

REC Power Development and Consultancy announced the transfer of two significant transmission project-specific vehicles to Adani Energy Solutions and Sterlite Grid 38 Ltd. These projects aim to evacuate power from a renewable energy zone in Gujarat, with completion targeted within 24 months.

REC Power Development and Consultancy has officially transferred two crucial project-specific special purpose vehicles (SPVs) to Adani Energy Solutions and Sterlite Grid 38 Ltd. The announcement came on Friday.

The SPVs, Khavda IV A Power Transmission Ltd and Khavda IV C Power Transmission Ltd, are part of a major initiative to evacuate power from a potential renewable energy zone in the Khavda area of Gujarat under Phase-IV (7 GW), according to a company statement.

Adani Energy Solutions Ltd and Sterlite Grid 38 Ltd won the rights to these transmission projects through a tariff-based competitive bidding process. Both projects, set for a 24-month completion target, will involve substantial construction and establishment of high-capacity transmission lines and substations.

(With inputs from agencies.)