ATL to buy interstate transmission project in India for $246 M
India-based power company Adani Transmission (ATL) has entered into agreements with Essar Power (EPL) to acquire an interstate transmission project in India.
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India, Mumbai: India-based power company Adani Transmission (ATL) has entered into agreements with Essar Power (EPL) to acquire an interstate transmission project in India.
ATL will acquire an operational 400 kV interstate transmission line connecting Mahan in the state of Madhya Pradesh with the Sipat pooling substation in the state of Chhattisgarh for the amount of $246.4 M (Rs19.13 B).
The project was commissioned in 2018 and has a line length of 673 km. It is operated by Essar Power Transmission (EPTCL), a unit of EPL.
The acquisition is intended to support ATL’s growth by increasing its cumulative network to 19,468 km, which includes 4,516 km in different stages of construction.
“The acquisition of Essar’s transmission asset will consolidate ATL’s presence in central India. With this acquisition, ATL is well on path to achieve its 20,000 km target before time. We continue to remain at the forefront of grid stability and provide sustainable, reliable and affordable energy solutions while creating long term sustainable value for our stakeholders,” commented ATL managing director and CEO Anil Sardana.
Besides its transmission network, the company operates a distribution business that serves nearly 12 million residents of Mumbai.
Source: Power Technology
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