Techno Electric & Engineering Company Ltd (Techno) owns 26 per cent stake in KMTL.
"The sale of assets will lead to a significant reduction in KPTL's consolidated debt and will help focus on strategic diversification within core business. KPTL will continue to focus on sustainable and profitable growth with commitment to improve return ratios," Kalpataru Power Transmission Managing Director and CEO Manish Mohnot said.
The estimated amount of debt at the SPV levels would be approximately Rs 2,000 crore at the time of COD.
CLP India Managing Director Rajiv Mishra said the acquisition of the KPTL assets will enable the company to expand its geographical reach across the country and reinforce its commitment to grow its investments.
"The Indian market is a primary growth market for CLP and CDPQ and the two companies share a vision to invest only in a low carbon, clean energy portfolio in India. Entering the transmission sector is a landmark for CLP India," he added.
The transaction is subject to requisite approvals and compliances.
Ernst & Young (EY) and Khaitan & Co. are advisors to KPTL and Techno for this transaction.
CLP India is owned by CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de dpt et placement du Qubec (CDPQ), one of Canada's leading institutional fund managers.
Shares of Kalpataru Power Transmission were trading 0.71 per cent higher at Rs 535.55 apiece on the BSE.