Adani Transmission incorporates new subsidiary
Adani Transmission has announced that it has incorporated a new wholly-owned subsidiary called “Adani Transmission Step Five Ltd” (ATSFL).
Image source: T&D India
India, Ahmedabad: Adani Transmission has announced that it has incorporated a new wholly-owned subsidiary called “Adani Transmission Step Five Ltd” (ATSFL).
The new company ATSFL was incorporated on 11 January 2023 and will be engaged in the power transmission business, ATL said.
The company has in the recent past incorporated at least two such subsidiaries “Adani Transmission Step One Ltd” and “Adani Transmission Step Two Ltd”.
While no official information about these subsidiaries is available, it strongly appears that they will be acquisition vehicles for transmission projects.
For instance, in September 2022, Adani Transmission Step Two Ltd, in turn, incorporated a wholly owned subsidiary “Adani Transmission Mahan Ltd” for the proposed acquisition of the 400 kV Mahan-Sipat transmission line owned by Essar Power.
In early June 2022, Essar Power Ltd announced that it entered into a definitive agreement with Adani Transmission Ltd (ATL) to sell the 400 kV Mahan-Sipat power transmission line for $235 M (Rs.1,913 crore).
Source: T&D India
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