AdTransmission Ltd (ATL) has announced that it has acknowledged a letter of intent from REC Transmission Projects to build, own, operate and maintain a transmission project in Gujarat for a period of 35 years.
"The project presents a substantial shareholder value creation as it is significantly value accretive within a relatively short gestation period," said Managing Director and CEO Anil Sardana. "It is also a great opportunity to continue our commitment to transmitting bulk green power within the country and catering to India's climate goals," he said in a statement.
The project Lakadia Banaskantha Transco Ltd will include of about 360 circuit km of 765 kilovolts direct line along with 765 kV bays at Lakadia and Banaskantha substations. It is primarily being constructed to establish transmission system associated with long-term applications from Gujarat's wind and solar energy zone in Radhanesda
The transmission line will be used to evacuate power to Lakadia pooling station. The project has been awarded to Adani Transmission through a tariff-based competitive bidding process.
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