New Delhi: Power transmission and retail distribution company Adani Transmission Limited (ATL) has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition of Warora-Kurnool Transmission Limited (WKTL) for an enterprise value of Rs 3,370 crore.
The regulatory approval for substitution of original awardee in the contract by Adani Transmission has already been received from Central Electricity Regulatory Commission. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction.
In a statement on Saturday, Adani Transmission said that the acquisition is in sync with its strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities.
With this acquisition, the cumulative network of ATL will reach 17,200 ckt km (circuit kilometre), out of which 12,350 ckt km is already operational and 4,850 ckt km (including this asset) is in various stages of execution.
It said that with this enhanced scale of operations, ATL will enjoy substantial benefits in terms of cost optimisation and shared resources and will also fortify its position of being the largest private sector transmission company in the country.