Apraava Energy Acquires Raigad Power Transmission SPV in Maharashtra

Apraava Energy, an integrated energy solutions provider, has announced that it has acquired the Special Purpose Vehicle (SPV), Raigad Power Transmission, to develop an intrastate transmission project across Pune and Raigad districts in Maharashtra. The project was awarded through the Government of India’s Tariff-Based Competitive Bidding (TBCB) process. It involves the setting up of ~400 circuit kilometres (ckm) (including ~ 340 ckm 765 kV and remaining 400 kV and 220 kV double-circuit transmission lines), along with a 4,500 MVA (3x1,500 MVA) 765/400/220 kV pooling station.

This marks Apraava’s first transmission asset in Maharashtra and will support in enhancing grid stability and reliability by enabling reliable power supply to potential Pumped Storage Plants (PSPs) and the evacuation of approx 3 GW of power from PSPs in Raigad district.

Commenting on the win, Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, “The Raigad Power Transmission project will play an important role in strengthening Maharashtra’s transmission network and enabling the reliable integration of renewable energy. Maharashtra holds a special place in our journey, as it was here that we entered the renewable energy sector with our first wind project in 2006. As one of India’s key economic and industrial hubs, Maharashtra requires a robust and resilient transmission network to meet its growing energy needs. Apraava remains focused on expanding its transmission portfolio and building the infrastructure needed to enable India’s energy transition.”

The project will be developed under the Build, Own, Operate and Transfer (BOOT) model and will provide transmission services for a 35-year concession period following commissioning. The project is scheduled for completion within 24 months from the signing of the Transmission Service Agreement (TSA). In addition to strengthening Maharashtra’s power transmission infrastructure, the project is expected to create direct and indirect employment opportunities during its construction and operational phases.

Apraava currently operates three transmission assets comprising around 1,000 ckm of transmission lines and 3,500 MVA of substation capacity. With the addition of Raigad Power Transmission, Apraava now has five greenfield transmission projects under construction, which will collectively add  approximately 1,580 ckm of transmission lines and around 18,000 MVA of substation capacity.