Power Grid Corporation of India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 30 May 2024 acquired Khavda IV-E2 Power Transmission (KIVE2TL), the Project SPV to establish “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase-IV (7GW) Part E2”, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – REC Power Development and Consultancy.

The project comprises of augmentation works at existing substation in the state of Gujarat.

KIVE2TL was incorporated on 05 October 2023 by the Bid Process Coordinator as per the “Guidelines Encouraging Competition in Development of Transmission Projects” and “Tariff based Competitive-bidding Guidelines for Transmission Service” notified by Ministry of Power (MoP).