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Adani Transmission Ltd has signed definitive agreements with Essar Power to buy one of its transmission lines linking Madhya Pradesh and Chattisgarh. A deal of ₹1,913 has been signed to buy 673 circuit kilometres (ckt km) operational inter-state transmission project owned and run by Essar Power Transmission Ltd
The target asset is an operational 400 kV interstate transmission line which will connect Mahan (Madhya Pradesh) with Sipat (Chattisgarh).
“The acquisition of Essar’s transmission asset will consolidate ATL’s presence in central India. With this acquisition, ATL is well on the path to achieving its 20,000 ckt kms 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,” said Anil Sardana, MD & CEO, Adani Transmission Ltd.
The project operates under the Central Electricity Regulatory Commission (CERC) regulated return framework and was commissioned on 22 September 2018.
Further, ATL said that the, “acquisition is in line with ATL’s value-added growth strategy through organic as well as inorganic growth opportunities. With this acquisition, the cumulative network of ATL will reach 19,468 ckt kms, out of which 14,952 ckt kms is operational and 4,516 ckt kms is under various stages of execution. Further, with this scale of operations, ATL will derive synergies in terms of O&M cost optimization and shared resources.”
“It will also fortify its position of being the largest private sector transmission and distribution company in the country. The asset will be operated in line with ATL’s operational excellence framework committed to the highest standard of Environment, Social and Governance (ESG) aspects,” the company said.
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