Adani completes acquisition of Essar Transco
The acquisition covers the fully operational 400 kV 673 ckm interstate transmission line running from Mahan, Madhya Pradesh to the Sipat pooling station in Chhattisgarh.
Image for illustration purposes.
India, Ahmedabad: Adani Energy Solutions Ltd has completed full equity acquisition in Essar Transco Ltd. AESL said its wholly owned subsidiary Adani Transmission Step-Two Ltd acquired a 100% stake in Essar Transco Ltd, which houses operational Mahan-Sipat transmission assets for an enterprise value of Rs.1,900 crore ($227.6 million). The share acquisition is pursuant to definitive agreements signed in June 2022.
The acquisition covers the fully operational 400 kV 673 ckm interstate transmission line running from Mahan, Madhya Pradesh to the Sipat pooling station in Chhattisgarh. The project operates under the Central Electricity Regulatory Commission (CERC) regulated return framework and was commissioned on September 22, 2028.
In June 2022, Adani Energy Solutions Ltd announced it had reached an agreement to acquire the 400 kV Mahan-Sipat transmission line from Essar Group. The acquisition of Mahan-Sipat transmission network will consolidate the company’s presence in central India with four operating assets worth 3373 ckm in the region. The acquisition is consistent with its philosophy of augmenting its existing capacities and bringing in efficiency through operational synergies and creating network effect, the release said. According to T&D India, following this acquisition, AESL’s transmission line portfolio has crossed 21000 ckm.
Source: T&D India