Adani Firm Wins Bid to Hook Up Giant Renewables Park to India’s Grid

By Bloomberg

Dec 27, 2023

image is BloomburgMedia_S6B10UDWRGG000_27-12-2023_08-00-10_638392320000000000.jpg

Signage atop the Adani Group headquarters in Ahmedabad, India, on Wednesday, March 8, 2023. A meeting was held in London Wednesday, as a part of a worldwide roadshow aimed at reassuring international investors that the ports-to-power empire’s finances are under control, after as much as $153 billion in combined market value was erased from company stocks following a January short seller’s report. Photographer: Prakash Singh/Bloomberg

(Bloomberg) -- Adani Energy Solutions Ltd. will spend 30 billion rupees ($360 million) to build a power line that will draw electricity from what’s being billed as the world’s largest renewables park.

The power infrastructure arm of billionaire Gautam Adani’s conglomerate won the Halvad transmission project in an auction and plans to complete it within two years, the company said in a filing on Wednesday.

The Halvad line will draw power from the Khavda park in Gujarat, where India plans to install 30 gigawatts of wind and solar capacity to benefit from the vast swathes of sun-soaked land near India’s western coast. Adani has said he’ll build 20 GW of hybrid capacity at the site.

The 301-kilometer line, part of the national grid, will draw 7 GW of power from the park, according to Wednesday’s statement.

India is planning to nearly triple its clean energy capacity by the end of the decade, mostly through solar and wind projects, to decarbonize its fossil fuel-driven economy. The nation aims to invest $29 billion to build transmission lines to connect green power to the grid.

By Rajesh Kumar Singh