Adani Energy Solutions announced that it had acquired a 298-km special purpose vehicle (SPV) for the Khavda Phase IV Part-A transmission project, which involves an investment of Rs 40.91 billion. Khavda IVA Power Transmission, the SPV, was established by REC Power Development and Consultancy (RECPDCL) to evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park, according to the company's statement.

Adani Energy Solutions (AESL) will implement the project in Gujarat within the next 24 months on a build, own, operate, and transfer (BOOT) basis, as per the statement. The company will invest Rs 40.91 billion to construct the 298-km (596 ckm) transmission project.

The project also includes the installation of a 300 MVAr STATCOM, 3x1500 MVA 765/400 kV Inter-connecting Transformers (ICTs), along with 1x330 MVAr 765 kV and 1x125 MVAr 420 kV bus reactors. AESL secured the project through a tariff-based competitive bidding process and will maintain the infrastructure for 35 years following its commissioning, scheduled for completion in the next 24 months.

AESL Chief Executive Officer Kandarp Patel stated that as the world's largest renewable energy park, Khavda requires a power evacuation infrastructure that is both world-class and resilient, ensuring it is ready for future demands.