Adani Energy Solutions Ltd (AESL), formerly known as Adani Transmission, has announced the acquisition of a transmission project from Megha Engineering & Infrastructures (MEIL). The project, known as KPS1-Khavda PS GIS (KPS2), involves the implementation of a 765 kV double circuit line and augmentation of Khavda PS1. AESL will buy 100% equity shares of the special purpose vehicle company KPS 1. The acquisition is part of AESL’s strategy to enhance value for its shareholders through organic and inorganic opportunities.
KPS1 is an under-development project incorporated on May 6, 2022, with a presence in India. The project aims to implement the KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and the augmentation of Khavda PS1. The project was initially planned to be completed within 21 months.
Adani group is developing a 20-gigawatt hybrid renewable energy park in Khavda, Gujarat. The acquisition of the transmission project is expected to further support this initiative.
Shares of AESL closed at Rs 821.70, up 0.42% on the BSE on Thursday.
