has signed definitive agreements with Kalpataru Power Transmission
(KPTL) for acquiring Alipurduar Transmission in a manner consistent with Transmission Service Agreement and applicable consents,” the company said in its statement.
Adani expects to complete the acquisition in the next few months, subject to all regulatory approval. “The acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities,” the company said in its statement.
Qatar Investment Authority (QIA), in February, acquired 25.10 per cent stake in Adani Electricity Mumbai (AEML) from ATL along with an investment in shareholder subordinated debt in AEML. The total QIA investment in AEML was is approximately Rs 3,220 crore. This investment and a recently completed capital management programme has placed Adani Transmission
in a suitable position to go ahead with its capital expenditure plans.
“The acquisition of Alipurduar Transmission will bolster the pan-India presence of ATL consolidating its position as the largest private sector transmission company in India. This asset will take ATL closer to its target of setting up 20,000 ckt km of transmission lines by 2022,” said Anil Sardana, manging director and chief executive officer for ATL.
With the latest acquisition, Adani Transmission’s cumulative network will reach more than 15,400 circuit kilometre (ckt kms), out of which more than 12,200 ckt kms (including this asset) is operational and more than 3,200 ckt kms is under various stages of execution.