Apraava Energy on Tuesday said it has bagged an interstate power transmission project in Madhya Pradesh under Tariff-Based Competitive Bidding (TBCB).
The project involves setting up of 40 km of 765 kV double-circuit transmission lines and a 3,000 MVA (Megavolt-Amperes) substation, the company said in a statement.
This is Apraava's third transmission project win in the last 12 months, reflecting an increased momentum in growing its low-carbon business, it said.
"Apraava Energy announced today (Tuesday) that it has secured a new greenfield interstate transmission project in Madhya Pradesh through the Government of India's Tariff-Based Competitive Bidding (TBCB) process," it stated.
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As part of the Transmission Service Agreement (TSA), the project will be developed by Apraava under BOOT (Build, Own, Operate and Transfer) model.
The completion timeline is set at 24 months from the date of Special Purpose Vehicle (SPV) transfer.
Given the progress witnessed in Madhya Pradesh in the recent years, the seamless transmission of power across all regions is paramount for sustaining and accelerating this growth, Naveen Munjal, Director, Business Development & Commercial, Apraava Energy said.
Apraava Energy will be responsible for the ownership, financing, development, design, engineering, procurement, construction, commissioning, operation, and maintenance of the project, and to provide transmission services for 35 years after the Commercial Operation Date (COD).
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Apraava Energy is an integrated energy solutions provider, jointly owned by the CLP Group, one of the largest investor-owned power businesses in Asia and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.
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