Adani Energy Solutions Ltd (AESL) announced this week that it has acquired 100% stake in Essar Transco Ltd for an enterprise value of INR 1,900 crore ($227.66 million). The acquisition was done through its wholly owned subsidiary Adani Transmission Step-Two Ltd.
The acquisition covers Essar Transco Ltd’s fully operational 400 kV, 673 ckt km inter-state transmission line linking Mahan in Madhya Pradesh to Sipat pooling substation in Chhattisgarh. The project was commissioned on Sep. 22, 2018.
The acquisition of Mahan-Sipat transmission network will consolidate AESL’s presence in central India with four operating assets having 3,373 ckt km in the region.
“The acquisition is consistent with the AESL’s philosophy of augmenting its existing capacities and bringing in efficiency through operational synergies and creating network effect,” stated AESL.
AESL, part of the Adani portfolio, is present in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. It is the country’s largest private transmission company, with a presence across 17 states of India and a cumulative transmission network of 21,182 ckm and 57,011 MVA transformation capacity.
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