AHMEDABAD:
Adani Energy Solutions
Limited, through its wholly owned subsidiary, Adani Transmission step-two Limited (
ATSTL
), on Thursday announced it has acquired a 100% stake in the operational assets of Essar Transco Limited at Mahan-Sipat transmission situated in Madhya Pradesh. The acquisition has been completed at an enterprise value of Rs 1,900 crore.
The acquisition will add 673 ckt kilometre, 400 kV inter-state
transmission line
taking the cumulative network of AESL to at least 21,000 ckt kilometre.
The acquisition will ensure the linking of fully operational inter-state transmission line assets in Mahan in Madhya Pradesh to Sipat pooling substation in Chhattisgarh. The project operates under the Central Electricity Regulatory Commission (CERC) regulated return framework and was commissioned in Sep 2018.
The share acquisition is pursuant to definitive agreements signed in June 2022, after obtaining requisite regulatory and other approvals, AESL said in a statement.
“The acquisition will consolidate AESL’s presence in central India with 4 operating assets having 3,373 ckt km in the region,” the company said in a statement.
