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Apraava Energy declared that it has been successful in its bid through the Tariff-undefined Competitive Bidding (TBCB) procedure of the Government of India for a new greenfield interstate transmission project in Madhya Pradesh. The project comprises the construction of a 3,000 MVA substation next to approximately 40 kilometers of double-circuit 765 kV transmission lines.
This marks the third transmission project win for Apraava within the past year, indicating a significant stride in advancing its low-carbon business. Under the Transmission Service Agreement (TSA), Apraava will undertake the development of the project following the BOOT (build, own, operate, and transfer) model, with a stipulated completion timeframe of 24 months from the date of Special Purpose Vehicle (SPV) transfer.
The project aims to meet the escalating power demands of the state. Apraava Energy assumes full responsibility for the project's ownership, financing, development, design, engineering, procurement, construction, commissioning, operation, and maintenance. It will also provide transmission services for a period of 35 years post- Commercial Operation Date (COD).
Naveen Munjal, Director of Business Development & Commercia at Apraava Energy, expressed satisfaction with the win, emphasizing the company's commitment to addressing Madhya Pradesh's growing power needs. He said, "Given the impressive progress witnessed in Madhya Pradesh in recent years, the seamless transmission of power across all regions is paramount for sustaining and accelerating this growth.
Apraava Energy remains dedicated to being a trusted partner in advancing India's green goals and ensuring power for all." In 2023, Apraava Energy secured two similar greenfield interstate transmission projects in Rajasthan, further contributing to its expanding low-carbon infrastructure endeavors.
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