Adani Transmission Ltd. today said it has received a Letter of Intent for a power transmission project in Maharashtra.
The LoI to Adani Transmission has been awarded under a tariff based competitive bidding model from Maharashtra State Electricity Transmission Company Ltd..
“Adani Transmission has received the LoI from MSETCL to build, own, operate and maintain a transmission project in Maharashtra for a period of 35 years,” a company statement said.
The project ‘Kharghar Vikhroli Transmission Pvt. Ltd.' comprises approximately 34 kilometre of 400 kilovolt and 220 kilovolt transmission lines along with 400 kilovolt Gas Insulated Switchgear Substation at Vikhroli in Mumbai.
According to the statement, this will be the first ever 400 kilovolt substation facility in Mumbai.
The project is critical to Mumbai as the existing capacity of transmission corridor is not sufficient to carry further power into the city. It would enable additional power to be brought into the city, thus helping in meeting the future demand of Mumbai.
The project will also help bring down the cost of electricity for the people of Mumbai, it added.
Adani Transmission is the transmission and distribution business arm of Adani Group. It is the country's largest private transmission company with a cumulative transmission network of around 14,738 circuit kilometre. Out of this, 11,477 circuit km is operational and 3,261 circuit km is at various stages of construction.
Shares of Adani Transmission ended lower for the second consecutive trading session on Friday. The stock fell 1.3 percent to close at Rs 331.55 on National Stock Exchange.
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