29 C
Tuesday, June 18, 2024

Adani Energy acquires Essar’s Mahan-Sipat transmission assets

- Advertisement -
- Advertisement -

Ticker : Assets worth Rs 1,900 cr


- Advertisement -

NEW DELHI, May 16: Adani Energy Solutions on Thursday said it has completed the acquisition of Essar’s Mahan-Sipat Transmission assets for an enterprise value of Rs 1,900 crore.

The share acquisition is pursuant to definitive agreements signed in June 2022, a company statement said.

According to the statement, Adani Energy Solutions Ltd (AESL), has acquired a 100 per cent stake in Essar Transco Limited after obtaining the requisite regulatory and other approvals for an enterprise value of Rs 1,900 crores.  The acquisition covers a fully-operational 400 kV, 673 ckt kms (circuit kilometre) inter-state transmission line  linking Mahan in Madhya Pradesh to the Sipat pooling substation in Chhattisgarh.

The project operates under the Central Electricity Regulatory Commission (CERC) regulated return  framework and was commissioned on September 22, 2018.

- Advertisement -

Adani Transmission Step Two Ltd, a wholly-owned subsidiary of Adani Energy Solutions has acquired 100 per cent stake in Essar Transco Ltd for Rs 1,900 crore.

This establishes a new benchmark for AESL to raise capital and unlocks the lower-cost debt for its operational assets.

MUFG Bank Ltd is the sole lender for the financing.

The acquisition of the Mahan-Sipat transmission network will consolidate AESL’s presence in central India with 4 operating assets having 3,373 ckt km in the region. (PTI)

- Advertisement -








- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
Journey Through Beauty: South India’s Scenic Train Rides 10 Most Dangerously Polluted Cities In The World 2024 Top Private Medical Colleges with Low NEET Score Acceptance 10 Downsides Of Eating Noodles Superfood In Your Diet: 9 Incredible Health Benefits Of Guava